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WALL STREET HIGHS: The Dow rose above 21,000 points for the first time on Wednesday in what was the biggest gain for the blue-chip index so far this year.

Financial stocks saw substantial strength on the day amid optimism about the potential impact of a near-term interest rate hike. The main indexes were still hovering near record levels set on Monday.

TRUMP SPEECH: Investors were listening closely to Trump's speech to Congress, hoping for concrete policies to match his promises for an economic revival. "The fact that political uncertainty may be starting to subside may be counted as really good news".

All the major indexes moved into record territory, with the DJIA up 303.31 points to 21,115.55 at the close of trading, Efe news agency reported.

Earlier, the Dow Jones Industrial Average fell 25.2 points, or 0.12 percent, to end at 20,812.24, while the S&P 500 lost 6.11 points, or 0.26 percent, to end at 2,363.64 and the Nasdaq Composite dropped 36.46 points, or 0.62 percent, to 5,825.44. He noted Trump floated the idea of as much as $1 trillion in infrastructure investment, though that will be hard to get approved by Congress.

Since the election in November, expectations of tax reform, deregulation and ramped up spending on defense and infrastructure projects has pushed the stock market higher.

On Tuesday, New York Fed President William Dudley said the case for tightening monetary policy had become "a lot more compelling", according to Reuters. Natural gas futures rose 8 cents, or 3 percent, at $2.77 per 1,000 cubic feet.

Wednesday's gains overshadowed the reported pricing of Snap Inc.at $17 per share, which would value the parent of the popular disappearing-message app Snapchat at nearly $24 billion and above the projected share range of $14 to $16.

The yield on the 10-year Treasury note rose to 2.45 percent. JPMorgan Chase climbed $3.10, or 3.4 percent, to $93.72.

Moreover, Russia's Energy Minister Alexander Novak said yesterday that the nation's total crude output will be lower this month as compared to last month.

"Policymakers have been falling over themselves in the rush to suggest the U.S. economy is ready for another hike, just one quarter after the last one", said Chris Beauchamp, analyst at IG.

Priceline Group Inc.(PCLN) shares rallied more than 6% after the online travel company posted strong quarterly earnings (http://www.marketwatch.com/story/shares-of-priceline-gain-on-better-than-expected-quarterly-earnings-2017-02-27).