In the previous day's trade, markets worldwide were on edge following news that North Korea had fired a ballistic missile which had passed over Japan. However, investor nervousness around North Korea appears to have eased.
This comes as President Donald Trump issued a statement which said that "all options are on the table" when it comes to its relationship with North Korea going forward.
"The world has received North Korea's latest message loud and clear: this regime has signaled its contempt for its neighbors, for all members of the United Nations, and for minimum standards of acceptable international behavior," Trump said in a statement.
Data was also at the forefront of investors' minds on Wednesday.
U.S. revised second-quarter GDP rose 3.0 percent versus a 2.7 percent rise expected.
The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment, according to Reuters.
Growth last quarter was the strongest since the first quarter of 2015 and followed a 1.2 percent pace in the January-March period.
Private payrolls for August jumped at their fastest pace in five months thanks in part to strong gains in construction and manufacturing jobs, according to the latest release from ADP and Moody's Analytics.
Companies added 237,000 positions for the last full month of summer, well ahead of the 185,000 that economists surveyed by Reuters expected.
Total mortgage application volume decreased 2.3 percent on a seasonally adjusted basis last week, compared with the previous week, according to the Mortgage Bankers Association. Applications are now down nearly 25 percent compared with a year ago, largely due to the lack of homeowners refinancing their loans.