U.S. stocks rose Wednesday, though off session highs at midday, after testimony by Federal Reserve Chairman Jerome Powell before Congress was seen indicating a likely interest rate cut later this month.

The Dow Jones Industrial Average rose 69 points, or 0.3%, at 26,850, while the S&P 500 index  advanced 9 points, or 0.3%, to 2,989. The Nasdaq Composite index added 36 points, or 0.5%, to 8,178.

At session highs, the Dow rose 199.96 points, or 0.7%, to 26,983.45, while the S&P added 22.26 points, or 0.8% to 3,002.89 and the Nasdaq advanced 86.87 points, or 1.1% to 8.228.60. These intraday highs set new records for all three benchmarks.

Source : Market Watch