Overnight market action with latest New York figures.
EQUITIES
NEW YORK - U.S. stocks rose on Wednesday, a day after Federal Reserve Chair Janet Yellen's comments eased some concerns about the path of interest rate hikes, but gains were limited by a dip in crude oil prices.
At 12:34 p.m. ET (1634 GMT), the Dow Jones industrial average .DJI was up 84.99 points, or 0.48 percent, at 17,718.1, the S&P 500 .SPX was up 9.87 points, or 0.48 percent, at 2,064.88 and the Nasdaq Composite index .IXIC was up 22.35 points, or 0.46 percent, at 4,868.98.
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LONDON - Britain's top share index recorded its highest closing level of 2016 on Wednesday, boosted by the mining sector after Federal Reserve Chair Janet Yellen called for caution on raising interest rates, lifting riskier assets.
The FTSE 100 index .FTSE ended 1.6 percent higher at 6,203.17 points, its highest closing level of 2016. The index remained just a shade below this year's intra-day high of 6,242.32 points, touched in January.
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TOKYO - Japanese stocks fell on Wednesday as the yen strengthened against the dollar after U.S. Federal Reserve Chair Janet Yellen called for caution on raising interest rates, with the stronger yen weighing on Japan's exporters.
The Nikkei share average .N225 fell 1.3 percent to 16,878.96 for its lowest close in nearly two weeks.
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FOREIGN EXCHANGE
NEW YORK - The U.S. dollar hit its lowest level against the euro in nearly seven weeks on Wednesday following dovish comments from Federal Reserve Chair Janet Yellen that pushed out expectations for the central bank's next interest rate hike.
The euro EUR= advanced to $1.1364, its highest against the dollar since Feb. 11, while the dollar hit a more than five-month low against the Swiss franc at 0.9592 franc CHF= .
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TREASURIES
NEW YORK - U.S. Treasury prices fell on Wednesday with benchmark yields rising from four-week lows as remarks about gradual interest rate hikes from Federal Reserve Chair Janet Yellen revived demand for stocks and other risky assets and spurred selling in safehaven bonds.
In early Wednesday trading, benchmark 10-year Treasury notes US10YT=RR were down 10/32 in price for a yield of 1.847 percent, up 3.5 basis points from late on Tuesday. The 10-year yield hit a four-week low of 1.800 percent on Tuesday.
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COMMODITIES
GOLD
NEW YORK - Gold fell on Wednesday as a rally in assets seen as higher risk, such as equities, prompted some investors to cash in gains sparked the previous day by Fed chair Janet Yellen's cautious tone on further rate hikes.
Spot gold XAU= was at $1,232.63 an ounce at 1330 GMT, down 0.7 percent, having risen 1.7 percent on Tuesday after Yellen's speech. U.S. gold futures GCv1 for April delivery were down $2.40 an ounce at $1,235.10.
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BASE METALS
LONDON - Copper dipped on Wednesday on persistent concerns over global economic growth and demand from top consumer China, although the fall was cushioned by a softer dollar as investors wound back their expectations for U.S. interest rate rises.
Three-month copper on the London Metal Exchange CMCU3 ended down 0.4 percent at $4,872.50 a tonne in official trade, recovering from a session low $4,850 - its cheapest since March 11. It hit an earlier high of $4,930.
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OIL
NEW YORK - Oil futures were barely higher on Wednesday after U.S. crude inventories rose to all-time peaks despite strong refinery runs, which forced the market to retreat from an earlier rally.
Crude stockpiles in the United States USOILC=ECI rose 2.3 million barrels last week, reaching a seventh straight week of record highs at 534.8 million barrels, the Energy Information Administration (EIA) reported.
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