(CNBC) -- U.S. equities closed higher on Wednesday as bank stocks led the charge.
The Dow Jones industrial average jumped about 140 points with Goldman Sachs contributing the most gains. Caterpillar was the best-performing stocks in the index, rising 2.4 percent.
"A part of the equity rise today is to make up for what the markets thought to be excess pessimism," said Komal Sri-Kumar, president of Sri-Kumar Global Strategies.
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