Wall Street near all-time highs on Bernanke remarks, upbeat U.S. data (3)

The market was also keeping an eye on how U.S. President Barack Obama and congressional leaders would discuss the automatic federal spending cuts totaling 85 billion dollars, set to kick in from March 1.

The U.S. dollar weakened against most major currencies on Wednesday. It slipped versus the euro as data showed that eurozone business sentiment continued to improve and concerns over Italy's election eased.

Light, sweet crude for April delivery gained 13 cents, or 0.14 percent, to settle at 92.76 dollars a barrel on the New York Mercantile Exchange on Wednesday.

However, Brent crude for April delivery fell 84 cents, or 0.75 percent, to close at 111.87 dollars a barrel.

Gold future for April delivery on the COMEX division of the New York Mercantile Exchange on Wednesday lost 19.8 dollars, or 1.23 percent, to settle at 1,595.7 dollars per ounce.