The S&P 500 notched its second record close of the week after the Federal Reserve cut interest rates again and signaled its intention to keep rates low.
The broad index got a boost after Fed Chairman Jerome Powell declared the central bank’s current policy stance is "appropriate" following its decision to cut rates a third time this year.
Oil prices closed lower on Wednesday, as investor sentiment was dampened by a sharp increase of U.S. stockpiles last week, adding to concerns over a potential supply glut.
The West Texas Intermediate for December delivery lost 1-point2-percent to settle at 55.06 dollars a barrel on the New York Mercantile Exchange.
Brent crude for December delivery declined 0.98 dollar to close at 60.61 dollars a barrel on the London ICE Futures Exchange.