The Dow Jones, the S&P 500 and NASDAQ closed deep in the green zone. Investors were encouraged by strong quarterly results from top US corporates.
The S&P 500 climbed by by 0.7 percent and ended the session at 2,599.03 hitting an all-time high with information technology as the best performing sector. The Index crossed the 2,600 threshold for the first time ever.
The Dow Jones also leaped by 160.50 points to end the session at 23,590.83. The tech-heavy NASDAQ composite rose by 1.1 percent, also reaching an all-time high of 6,862.48.
Tech Stocks may push farther up as Cyber Monday, the biggest shopping day of the year, is fast approaching. Adobe Digital Insight predicts that online shoppers will spend $6.6 billion, which is a 16.5 percent more than the previous year.
Oil prices were stable on Wednesday after reports showed a fall in U.S. crude inventories. In addition, there were expectations that the OPEC-led productions cut would be prolonged. The deal to curb output is due to expire in March 2018, but OPEC will meet on Nov. 30 to discuss the possibility of extending it.
Brent Crude futures, the international benchmark for oil prices, closed at $62.82 per barrel after climbing up by 24 cents, or 0.4 percent. U.S. West Texas Intermediate crude futures were traded at $57.31 per barrel recording an increase of 48 cents or 0.8 percent.