• The Dow Jones Industrial Average .DJI climbed 0.45 percent to end at 20,504.41 points, while the S&P500 .SPX gained 0.40 percent to 2,337.58. The Nasdaq Composite .IXIC added 0.32 percent to 5,782.57.
Major U.S. stock indexes established record highs on Tuesday, led by bank stocks after Federal Reserve Chair Janet Yellen said it would be unwise to wait too long to raise interest rates.
Apple (AAPL.O) racked up a record high close for the second straight session, contributing to gains in the S&P500, Dow Jones Industrial Average and Nasdaq Composite indexes.
• Yellen said delaying rate hikes could force the U.S. central bank to tighten monetary policy quicker down the line, which could risk a recession. She also expressed uncertainty over economic policy under the Trump administration.
• Asian stocks rose early on Wednesday as Wall Street set record highs overnight after Federal Reserve Chair Janet Yellen spoke in support of an interest rate hike next month, while the dollar hovered near three-week highs.
Yellen said on Tuesday that the Fed will probably need to raise interest rates at an upcoming meeting in March, and that delaying rate increases could leave the Fed's policymaking committee behind the curve.
Yellen's comments boosted U.S. bank stocks, helping push Wall Street indexes to record highs overnight.
• The rise in U.S. stocks nudged MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS to a 19-month high. The index was up 0.3 percent early on Wednesday. Japan's Nikkei .N225 added 1 percent and Australian stocks rose 0.9 percent.
Reference: Reuters
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