NEW YORK, Oct. 9 -- U.S. stocks advanced on Wednesday, extending gains from the previous session as investors anticipated upcoming economic data and earnings reports.

The Dow Jones Industrial Average rose 431.63 points, or 1.03 percent, to 42,512.0. The S&P 500 added 40.91 points, or 0.71 percent, to 5,792.04. The Nasdaq Composite Index increased 108.70 points, or 0.60 percent, to 18,291.62.

Nine of the 11 primary S&P 500 sectors ended in green, with health and technology leading the gainers by going up 1.02 percent and 1.01 percent, respectively. Meanwhile, utilities and communication services led the laggards by dropping 0.89 percent and 0.55 percent, respectively.

Investors have maintained a largely positive outlook despite rising tensions in the Middle East and uncertainty surrounding the U.S. elections, as strong economic data has provided support. U.S. Treasury yields held steady, with the 10-year yield hovering just above 4 percent, reflecting a cautious but stable market environment.

The minutes released Wednesday afternoon from the Federal Reserve's September meeting revealed that officials agreed to cut interest rates by 50 basis points but expressed uncertainty over how aggressive the policy should be. "Some participants observed that they would have preferred a 25 basis point reduction of the target range at this meeting, and a few others indicated that they could have supported such a decision," the minutes stated.

The decision aimed to balance progress on inflation with concerns about the labor market. The minutes also indicated that a "substantial majority" of participants favored the larger cut, reflecting input from the full Federal Open Market Committee, not just voting members.

"The Federal Reserve appears to remain comfortable with where inflation is and trending," Josh Hirt, senior U.S. economist at Vanguard, said after the minutes were released.

JPMorgan Chase and Wells Fargo are set to kick off earnings season for the banking sector on Friday. This quarter has been unusual for the U.S. financial system, characterized by volatile markets and the Fed implementing its first interest-rate cut in more than four years. Investors will be closely watching how these factors have impacted the banks' performance and outlook.

  - Xinhua