U.S stocks hit fresh highs on earnings, German data; Dow rises 0.32%

Solid German industrial out data and hopes for more better-than-expected earnings in coming sessions sent stock prices closing at fresh highs on Wednesday.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.32% at 15,105.12, the S&P 500 index rose 0.41% to close at 1,632.68, while the Nasdaq Composite index rose 0.49% 3,413.27.

Germany's industrial output, which includes manufacturing, mining, electricity and gas concerns, shot up 1.2% in March, the largest increase in a year and defying expectations for a 0.1% decline. 

February’s figure was revised up 0.6% from 0.5%.

The numbers bolstered hopes that the German economy, Europe's largest, may post better-than-expected growth rates for the first quarter.

During the October-December period of 2012, Germany's economy contracted by 0.5%. 

Official data released on Tuesday revealed that German factory orders climbed 2.2% in March, defying expectations for a 0.5% decline.

The news bolstered prices on Wall Street as did solid quarterly earnings hitting the wire.

Whole Foods Market and Electronic Arts issued guidance numbers that beat analyst forecasts.

Elsewhere, Chinese imports and exports rose more than expected in April, which supported stock prices.

China's exports rose 14.7% year-on-year last month, while imports grew 16.8%, bringing the country’s trade surplus to USD18.6 billion for the month, well above expectations for a USD15.05 billion surplus.

Leading Dow Jones Industrial Average performers included UnitedHealth Group, up 3.31%, Hewlett-Packard, up 2.73%, and Alcoa, up 2.55%.

The Dow Jones Industrial Average's worst performers included McDonald's, down 1.32%, Pfizer, down 1.07%, and Microsoft, down 0.93%.

European indices, meanwhile, finished higher.

After the close of European trade, the EURO STOXX 50 rose 0.56%, France's CAC 40 rose 0.89%, while Germany's DAX 30 finished up 0.83%. Meanwhile, in the U.K. the FTSE 100 finished up 0.40%. 

On Thursday, the U.S. is to publish the weekly government report on initial jobless claims.