U.S. stocks close higher after Powell's dovish comments

NEW YORK, March 20 (Xinhua) -- U.S. stocks ended higher on Wednesday, after the Federal Reserve reiterated rate cut guidance and Fed Chair Jerome Powell's dovish comments.

The Dow Jones Industrial Average rose 401.37 points, or 1.03 percent, to 39,512.13, hitting a record high. The S&P 500 added 46.11 points, or 0.89 percent, to 5,224.62. The Nasdaq Composite Index increased 202.62 points, or 1.25 percent, to 16