The S&P 500 rose 1%, and reached an intraday record high as it looks for an all-time high close. The Nasdaq composite gained 1.1%, also after hitting a new intraday high on the stock market today. The Russell 2000 small-caps index fared better than the major indexes with its 2.2% leap.

The benchmark S&P 500 and Nasdaq hovered near record highs on Wednesday, but the market reflected weakness in some technology stocks after the previous day's strong gains on hopes that the Federal Reserve was getting close to a monetary easing cycle.