Wall Street extends gains on higher oil prices, market optimism

US stock indices closed Wednesday higher for another session as higher oil prices boosted the energy sector, and amid positive news on US-China trade talks. 

Fed Reserve Chair Jerome Powell soothed the markets further by dismissing chances of a US recessions any time soon. 

Chinese President Xi Jinping will meet US trade delegation in Beijing to discuss hanging issues before the anticipated summit with US President Donald Trump next month. 

For the energy sector, US West Texas rose 1.5% to $53.90 a barrel, with a session-high at $54.6. 

Brent rose 1.9% to $63.61 a barrel, with an intraday high at $63.9. 

Stock Performance 

Dow Jones rose 0.5%, or 117 points to 25,543, with a session-high at 25,626. 

Nasdaq added 0.1%, or five points to 7,420, with an intraday high at 7,461. 

Standard and Poor's 500 climbed 0.3% to 2,753, with an intraday high at 2,762.