Global shares continued to show a recovery from concerns over the banking crisis, with all three major US indexes closing higher in the New York session.
Most recently, Treasury Secretary Janet Yellen expressed her willingness to intervene to protect depositors in smaller US banks that face a greater risk of deposit failure.
As a result, Yellen has provided additional support to financial stocks, which were among the top gainers in the S&P 500 on Tuesday.
This can be seen in First Republic Bank's share surge of 45% following the comment, while KeyCorp, US Bancorp and Comerica increased by 8%.
Meanwhile, the Nasdaq gained support from an increase in Tesla shares by 7% following the latest report showing that the electric vehicle maker recorded strong sales in China in the first quarter.
The Dow Jones Industrials got a boost from gains posted by American Express, JPMorgan Chase and Goldman Sachs amid strong demand for financial stocks.
At the close of the New York session, the Dow Jones Industrial gained 0.98% to 32560.61, while the S&P rose 1.3% to 4,002.86 and the Nasdaq jumped 1.42% to 12,741.44.
The US30 index was little changed at 32,542.5 during the Asian session.
Like other markets, stock investors will focus on the FOMC policy meeting that will take place early Thursday morning, where the Federal Reserve (Fed) is expected to raise rates by 25 basis points.
