U.S. equities closed sharply higher on Wednesday as the Dow and S&P hit new record highs, while investors awaited a monetary policy announcement from the European Central Bank, CNBC reported.
The S&P 500 gained around 1.3 percent while the Dow Jones industrial average gained nearly 300 points, and the Nasdaq composite rose 1.2 percent.
"I think this is more momentum from the Trump rally," said Adam Sarhan, CEO at 50 Park Investments. "You've got the financials, transports, steel stocks, small and mid-cap stocks all trading higher. The areas that have worked [since the election] continue to work."
"While all this is happening, you've seen virtually no selling. That's very good for stocks moving forward," he added.