U.S. stocks remained higher in Wednesday's final hour of trading as investors looked past weaker-than-expected data from the Institute for Supply Management and Federal Reserve Chairman Jerome Powell's remarks about taking a more cautious approach to lowering rates.

Stocks hit all-time highs as Federal Reserve Chair Jerome Powell said the economy is in remarkably good shape. The euro pared gains as the French government fell after a no-confidence vote in Parliament.

Markets were encouraged by Powell's comments on the economy. The Dow closed about 45,000 for first time ever, while the S&P 500 and Nasdaq also hit records.

The S&P 500 and Nasdaq Composite remained on track to reach fresh record closes on Wednesday as Federal Reserve Chair Jerome Powell took the stage at the New York Times DealBook Summit. "The U.S. economy is in very good shape" and "the envy" of other large countries around the world,

U.S. equity futures moved higher again Wednesday as markets regained their end-of-year optimism while eyeing another round of labor market data and key public remarks from Federal Reserve Chairman Jerome Powell later in the session.