• The Dow Jones Industrial Average .DJI rose 255.93 points, or 1.09 percent, to 23,836.71, the S&P 500 .SPX gained 25.63 points, or 0.99 percent, to 2,627.05 and the Nasdaq Composite .IXIC added 33.84 points, or 0.49 percent, to 6,912.36.
All three indexes notched record closing highs.
Wall Street surged to record highs on Tuesday led by sharp gains in bank stocks, and boosted by progress for a tax cut bill, strong consumer confidence data and encouraging comments from President Donald Trump’s nominee to lead the Federal Reserve.
• Trump’s push for a big package of tax cuts moved past a potential obstacle as a Senate panel approved the measure despite lingering concerns from some Republican members.
Wall Street is closely watching progress on the Republicans’ tax-reform efforts, with hopes that corporate tax cuts will further fuel the record-setting rally for equities.
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• Asian markets shrugged off North Korea's latest missile launch on Wednesday, instead following the lead from Wall Street, where the Dow Jones industrial average closed 225 points higher.
• Japan's Nikkei 225 rose 0.53 percent in early trade, shrugging off the North's latest missile launch. Major exporters gained on the dollar's move higher against the yen. Toyota tacked on 0.64 percent, Sony rose 1.03 percent and Sharp was 0.14 percent higher.
Reference: Reuters, CNBC
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