(CNBC) -- The Nasdaq composite and S&P 500 closed higher on Wednesday, boosted by dealmaking activity and potentially improving trade relations between the U.S. and the European Union.
The tech-heavy Nasdaq rose 0.7 percent to 7,781.51 to close at an all-time high, led by Facebook and Netflix, which also reached record levels. Facebook and Netflix rose 2.3 percent and 2.9 percent, respectively. The S&P 500 gained 0.2 percent to end at 2,767.32, with real estate stocks outperforming.
Disney raised its bid for Twenty-First Century Fox assets to $38 per share, or $71.3 billion, surpassing an offer made by rival and NBCUniversal parent Comcast. Last week, Comcast bid $65 billion in cash for Fox assets which include FX, Star TV and stakes in Sky.
Advertisement - story continues below