(CNBC) — U.S. equities rose on Wednesday as investors parsed through testimony from the top-ranking Federal Reserve official.

The Dow Jones industrial average closed about 125 points higher and hit a record intraday and closing highs. Shares of DuPont contributed the most gains on the 30-stock index.

The S&P 500 gained 0.74 percent, with real estate and energy leading advancers. The Nasdaq composite outperformed, rising 1.1 percent as shares of PayPal hit a record high.

Note: Read our discussion guidelines before commenting.