Wednesday morning brought a recovery to Wall Street, as major benchmarks regained some of their lost ground from yesterday. Investors seemed to take comfort from more favorable comments regarding trade negotiations between the U.S. and China, which suggested that a preliminary agreement on some key issues might still be possible in the next couple of weeks. As of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 176 points to 27,679. The S&P 500 (SNPINDEX: ^GSPC) rose 21 points to 3,114, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 47 points to 8,568.
Among individual companies, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) made a major change to its management structure that marks a huge transition for the tech giant. Meanwhile, Union Pacific (NYSE: UNP) enjoyed modest gains as shareholders come to terms with the prospects for the rail industry and its key players.
Shares of Alphabet rose 2% after the tech company announced that co-founders Sergey Brin and Larry Page would move out of their current executive roles. Although the two will remain involved and active with the company they helped create, they're handing over the reins in an effort to unify the CEO role throughout the organization.