Stocks extended gains and the Nasdaq hit a 10-year intraday high on Wednesday following comments by Federal Reserve Chairman Ben Bernanke, which reinforced the view the Fed was willing to maintain its support for the economy.

The Dow Jones industrial average <.DJI> was up 105.50 points, or 0.84 percent, at 12,700.87. The Standard & Poor's 500 Index <.SPX> was up 9.44 points, or 0.70 percent, at 1,356.68. The Nasdaq Composite Index <.IXIC> was up 22.05 points, or 0.77 percent, at 2,869.59.

(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)

Ben Bernanke