More blowout profit reports from big tech companies pushed the S&P 500 to another record high on Wednesday.

The benchmark index rose 1%, even though most of the stocks within it fell.

Tech stocks accounted for the lion's share of the gains. Salesforce.com soared after reporting results that far surpassed analysts' estimates.

The Dow Jones Industrial Average, which Salesforce.com will be joining next week, rose 0.3%.

The Nasdaq rose 1.7%, but smaller stocks fell.

Treasury yields rose ahead of a highly anticipated speech from the Federal Reserve's chair, Jerome Powell, on Thursday. Powell will be speaking as part of the Fed's annual economic symposium.