The Dow Jones Industrial Average ( ^DJI) climbed 0.6%, or over 200 points, while the S&P 500 ( ^GSPC) added 0.3% on the heels of an all-time closing high. The tech-heavy Nasdaq Composite ( ^IXIC) gained around 0.5%.

U.S. stocks remained higher in Wednesday's final hour of trading as investors looked past weaker-than-expected data from the Institute for Supply Management and Federal Reserve Chairman Jerome Powell's remarks about taking a more cautious approach to lowering rates.

The S&P 500 went up 14.77 points or 0.2% to close at 6047.15, a record closing high. It is the index's 54th record close of 2024. The Nasdaq Composite gained 185.78 points or 1% to finish at 19403.95, a record close. It is the index's 33rd record close of 2024.

The Dow surged nearly 200 points on Wednesday morning, driven by gains in Salesforce and other tech stocks. Shortly after the opening bell, the Dow climbed 170 points or 0.3%. The S&P 500 added 0.3%,