A rally in the world’s largest technology companies drove stocks higher, with traders wading through the latest economic data and awaiting Jerome Powell’s remarks for clues on the Federal Reserve’s next steps.

The S&P 500 went up 14.77 points or 0.2% to close at 6047.15, a record closing high. It is the index's 54th record close of 2024. The Nasdaq Composite gained 185.78 points or 1% to finish at 19403.95, a record close. It is the index's 33rd record close of 2024.

U.S. stock indexes are rising toward more records Wednesday after tech companies talked up how much artificial intelligence is boosting their results. The S&P 500 rose 0.3% in afternoon trading to add to what looks to be one of its best years of the millennium.

South Korea's opposition parties submitted an impeachment motion against President Yoon Suk Yeol on Wednesday afternoon, just hours after his short-lived attempt at imposing martial law was overturned by lawmakers.

SEOUL (Reuters) -South Korean President Yoon Suk Yeol is facing the threat of impeachment, with opposition lawmakers accusing him of violating his constitutional duty and committing a crime akin to treason when he declared martial law on Tuesday.