Wall Street followed the uptrend of global shares on Wednesday with the key U.S.

Treasury yield seeing decline for a month-low.

This comes as Federal Reserve Chair Jerome Powell reassures investors, expressing that despite inflation isn’t exactly tamed, investors can anticipate rate cuts throughout the year.

MSCI’s global stocks gauge rose by 0.56%.

Wall Street’s three primary indices were lifted on Wednesday following Jerome Powell’s affirmation that the U.S.

central bank is expected to decrease its benchmark interest rate this year.

At this time, the Dow Jones Industrial Average had increased by 48.13 points or 0.12% to 38,633.32.

The S&P 500 gained 25.80 points, or 0.51% at 5,104.45, and the Nasdaq Composite added 107.45 points, or 0.67%, at 16,047.04.

The primary European equity indexalso reached an all-time high on Wednesday driven by technological and financial shares.

Meanwhile, investors evaluated Federal Reserve Chair Jerome Powell’s Congressional testimony ahead of the subsequent day’s European Central Bank’s policy decision.

Pan-European STOXX 600 index rose by 0.4%.

While Japan’s Nikkei share average barely missed reaching a record closure for another session on Wednesday, technological shares pulling down the index due to drops in U.S.

counterparts during the preceding night.