All three major U.S. stock indexes rose more than 1 percent on Wednesday and the S&P 500 posted its best daily percentage gain since January 2 as Federal Reserve Chairman Ben Bernanke remained steadfast in his support of the Fed's stimulus policy.

Based on the latest available data, the Dow Jones industrial average <.DJI> was up 175.24 points, or 1.26 percent, at 14,075.37. The Standard & Poor's 500 Index <.SPX> was up 19.05 points, or 1.27 percent, at 1,515.99. The Nasdaq Composite Index <.IXIC> was up 32.61 points, or 1.04 percent, at 3,162.26.

(Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)