• The Dow Jones Industrial Average .DJI rose 123.07 points, or 0.57 percent, to close at 21,532.14, a record high. The Dow also hit an intraday record.
The S&P 500 .SPX gained 17.72 points, or 0.73 percent, to 2,443.25 and the Nasdaq Composite .IXIC added 67.87points, or 1.10 percent, to 6,261.17.
The Dow rose to a record high close while U.S. stocks kept their upward momentum Wednesday following Federal Reserve Chair Janet Yellen's congressional testimony to gradually raise interest rates.
• Yellen's speech was a nod to Wall Street as the Fed signaled it will gradually tighten policy and gradually unwind its massive balance sheet. A neutral interest rate level refers to one that neither encourages nor discourages economic activity.
• Investors cheered Yellen's dovish tone, alleviating some concerns over the recent dip in inflation.
• Asian shares scaled a two-year top on Thursday as investors wagered policy tightening in the United States would be glacial at best, lifting Wall Street to record peaks and lowering bond yields almost everywhere.
• MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.45 percent to its highest since mid-2015.
• Japan's Nikkei firmed 0.4 percent and Australia's main index jumped 1 percent.
Reference: Reuters
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