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The Federal Reserve says it may start dialing back asset purchases this summer, but Wall Street doesn't seem worried Wednesday with stocks flying Wednesday and driving the major averages to fresh nominal highs.

New York's Dow Jones share index sets a new all-time high, as does the broader based S&P 500 index. The rallies mean the stock markets are returning to levels not seen since before the global financial crisis.

Consumer spending rose in February and sentiment among Americans perked up this month, further signs of an acceleration in economic activity in the first quarter after a near stall in late 2012.

Unemployment rates fell in 22 U.S. states in February from January, a sign that hiring gains are benefiting many parts of the country. The Labor Department says unemployment rates rose in 12 states and were unchanged in 16.

Twelve co-workers won the lottery, and they included an employee who didn't contribute when splitting the winnings.

Home resales hit a three-year high in February and prices jumped, adding to signs of an acceleration in the housing market recovery, even though the supply of properties on the market increased.

The number of people seeking U.S. unemployment aid barely changed last week, while the average over the past month fell to a fresh five-year low. The decline in layoffs is helping strengthen the job market.

Groundbreaking to build homes rose in February and new permits for construction climbed to the highest level since 2008, a sign the nation's housing market recovery is gathering steam.

The Dow Jones industrial average has reached another milestone, recording its longest winning streak since 1996. The index rose for the 10th time in a row Wednesday, gaining 83 points to close at 14,539, an increase of 0.6 percent.

Fewer Americans sought unemployment aid last week, reducing the average number of weekly applications last month to a five-year low. The drop shows that fewer layoffs are strengthening the job market. The Labor Department says applications fell 10,000 to a seasonally adjusted 332,000. That pushed the four-week average to 346,750, the lowest since March 2008, just several months after the Great Recession began. Applications are a proxy for layoffs. They have fallen nearly 13 percent since November.