The Dow Jones industrial average rose 293 points in Wednesday trading to close at 16,351.

The S&P 500 rose 35 points to 1,949.

The Nasdaq rose 114 points to 4,750.

The LABJ Stock Index rose five points to 221.

Gainers and Losers

Among stocks trading above $1, audio technology company DTS Inc. was Wednesday’s biggest local gainer. Shares rose 11 percent on the day, closing at $28.41 after the company announced it would acquire digital radio technology firm iBiquity Digital Corp. for about $172 million.

Wednesday’s biggest loser was Monrovia drone maker AeroVironment Inc. Shares fell 9 percent on the day, closing at $21.26, a day after the company reported earnings that fell short of analysts’ expectations.