U.S. equities finished higher Wednesday, with telecommunications and energy stocks posting the largest gains.

Financial sector stocks led the decliners.

In corporate news, Netflix will be losing classic TV sitcom “Friends” to WarnerMedia’s new streaming service, HBO Max. A limited launch of the new service will start later this year.

In economic news, Federal Reserve Chairman Jerome Powell indicated the central bank could lower interest rates this month, noting a lack of improvement in the economic outlook.

U.S. Treasury prices were mixed.

Volume on the New York Stock Exchange was moderate, with 741 million shares traded. Advancers outnumbered decliners by a wide margin.

Gold fell $20 to $1,417.59, silver fell 2 cents to $15.26, and crude oil rose $2.51 to $60.34 a barrel.

The 30-year Treasury yield closed higher at 2.58 percent, and the 10-year Treasury yield finished lower at 2.06 percent.

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