Shares in the industrial sector reversed early losses and closed slightly higher amid signs the economy remains resilient.
The Philadelphia Fed said its activity indicator rose in July to 41.4 from 10.3 in June.
GE Aerospace raised its full-year outlook after profit and revenue increased in the second quarter.
Uber Technologies agreed to acquire Germany's Delivery Hero in a deal that values the German food-delivery company at $14.8 billion and seeks to strengthen the U.S. tech company's footprint in international markets.
Shares of Insteel Industries were higher after the steel wire reinforcing products manufacturer reported an increase in its third-quarter revenue, helped by higher average selling prices and improved shipment activity.
