India, July 9 -- After ending Tuesday's choppy trading session little changed, stocks moved mostly higher over the course of the trading session on Wednesday.

The major averages gave back ground after an early advance but moved back to the upside as the day progressed, closing firmly in positive territory.

The tech-heavy Nasdaq jumped 192.87 points or 0.9 percent to a new record closing high of 20,611.34, the S&P 500 climbed 37.74 points or 0.6 percent to 6,263.26 and the Dow rose 217.54 points or 0.5 percent to 44,458.30.

The strength on Wall Street may partly have reflected optimism about a potential trade between the U.S. and the European Union.

A report from the Financial Times indicated EU negotiators are closing in on a trade deal...