Major U.S. indices ended higher on Wednesday, with the Dow Jones Industrial Average increasing by 1.1% to 39,271.36, the S&P 500 gaining nearly 1% to reach 5,633.91, and the tech-heavy Nasdaq climbing 1.2% to 18,647.45.

On Wednesday, Federal Reserve Chair Jerome Powell outlined the conditions needed for the central bank to lower rates during his Congressional testimony, emphasizing the necessity for sustained inflation reduction towards 2% and considering potential labor market weaknesses.

These are the top stocks that gained the attention of retail traders and investors throughout the day:

Palantir Technologies Inc. (NYSE:PLTR)

Palantir's stock closed the day with a 3.76% gain at $28.42, after reaching an intraday high of $28.47 and a low of $27.37. The company's 52-week high and low are $28.47 and $13.68 respectively. The stock has been on an upward trend following the announcement of Palantir's Foundry Platform and Artificial Intelligence Platform (AIP) certification on Oracle Cloud Infrastructure.

Apple Inc. (NASDAQ:AAPL)

Apple's shares ended the day with a 1.88% increase at $232.98. The stock hit an intraday high of $233.08 and a low of $229.25. The 52-week high and low are $233.08 and $164.08 respectively. The company is reportedly targeting a 10% growth in shipments of new iPhones, which has boosted the stock.

Costco Wholesale Corporation (NASDAQ:COST)

Costco's shares dipped slightly by 0.29% to close at $884.31. The company's shares rose 2.5% in the after-hours trading to $906.70. The stock's intraday high and low were $890.27 and $880.7, with a 52-week range of $896.67 and $526.15. The company's shares traded higher after it reported a 7.4% YoY increase in June sales and announced a membership fee increase.

SoundHound AI Inc. (NASDAQ:SOUN)

SoundHound AI's shares surged by 22.46% to close at $5.07, after hitting an intraday high of $5.14 and a low of $4.14. The company's 52-week high and low are $10.25 and $1.49 respectively. The stock rose following the announcement that its ChatGPT-integrated voice assistant is now live in several European vehicle brands.

Tesla Inc. (NASDAQ:TSLA)

Tesla's stock rose slightly by 0.35% to close at $263.26. The stock's intraday high and low were $267.59 and $257.86, with a 52-week range of $299.29 and $138.8. The stock's recent surge has sparked debate among analysts about the strength of the rally.

Photo by Phongphan on Shutterstock

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal