All three major US stock indexes rose around midday on Wednesday as oil prices fell and investors looked ahead to Micron Technology's (MU) earnings later in the day.

President Donald Trump said on Truth Social that Wednesday's housing bill news conference and signing ceremony have been canceled until the SAVE America Act is passed.

In company news, shares of Wendy's (WEN) surged as much as 42% as meme-stock traders rushed to buy the heavily shorted stock, multiple media outlets reported. The shares climbed 24% around midday.

Broadcom (AVGO) and OpenAI unveiled Jalapeno, OpenAI's first intelligence Processor. Shares of Broadcom rose 1.5%.

SpaceX (SPCX) said late Tuesday it priced its inaugural offering of $7 billion of 5.35% senior notes due 2031, $6 billion of 5.65% senior notes due 2033, $6 billion of 5.875% senior notes due 2036, $2.5 billion of 6.6% senior notes due 2046, and $3.6 billion of 6.65% senior notes due 2056. SpaceX shares rose 1.5%.

Hertz Global Holdings (HTZ) said in a regulatory filing that "current unexpected softness" in the market for used cars has caused it to realize losses on the sale of vehicles in May, which will adversely impact net depreciation per unit per month in Q2. Separately, the company said it plans to offer $300 million in aggregate principal amount of exchangeable senior first-lien secured PIK Notes due 2030. Hertz shares tumbled 32%.

Cerebras Systems (CBRS) reported a Q1 net loss late Tuesday of $0.22 per diluted share, narrowing from a loss of $0.46 a year earlier. Analysts surveyed by FactSet expected a loss of $0.16. Revenue rose to $193.4 million from $99.5 million, topping the consensus of $181.2 million. Still, the shares fell 16%.

Price: 1044.90, Change: -6.87, Percent Change: -0.65