(MENAFN) US equities closed higher Wednesday as investors awaited financial results from Nvidia, the world’s largest company by market value and a key driver of the market.

The Dow Jones Industrial Average rose 0.32%, adding 146.98 points to finish at 45,565.05. The S&P 500 climbed 0.24%, or 15.44 points, reaching a new all-time high of 6,481.38. The Nasdaq Composite increased 0.21%, gaining 45.87 points to close at 21,590.14.

Nvidia shares, which represent roughly 8% of the S&P 500 and carry the heaviest weight in the index, remained largely flat ahead of its earnings announcement. The chipmaker has surpassed earnings estimates in 11 of its past 12 quarterly reports, setting high expectations for the latest results.

In other news, the market showed little reaction to President Donald Trump’s unprecedented move to remove Federal Reserve Board Governor Lisa Cook. US stocks ended Tuesday with minimal fluctuations despite the controversial decision.

New York Fed President John Williams emphasized the importance of the Fed’s independence amid the turmoil. Speaking to media, Williams said, “Personally, I have worked with Lisa Cook as she’s been a member of the Board of Governors, and she’s always brought integrity and commitment to the central bank’s mission.”

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