Markets were encouraged by Powell's comments on the economy. The Dow closed about 45,000 for first time ever, while the S&P 500 and Nasdaq also hit records.

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.

U.S. stock indexes rose to more records Wednesday after tech companies talked up how much of a boost they’re getting from the artificial-intelligence boom.The S&P 500 climbed 0.6% to add to what’s set to be one of its best years of the millennium.

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%,