Shares of industrial and transportation companies rose as traders rotated back into cyclical sectors.

Fears of a bout of stagflation have receded in recent sessions amid reports that Middle East oil exports were recovering.

Shares of Apogee Enterprises rallied after the maker of specialized glass panels for skyscrapers, among other building materials, posted fiscal second-quarter earnings that topped Wall Street estimates.

The U.S. trade deficit widened in August to its biggest in more than a year, driven by higher U.S. purchases of products such as crude oil, gold and semiconductors from abroad.

Global Ship Lease exercised options to build two additional containerships for roughly $163 million, bringing the company's newbuilding orderbook to 17 ships.