U.S. shares rose on Wednesday, and small cap stocks <.RUT> were up more than 1 percent at 838.59, the highest level since October 2007.

The Dow Jones industrial average <.DJI> gained 85.41 points, or 0.70 percent, to 12,364.42. The Standard & Poor's 500 Index <.SPX> rose 10.38 points, or 0.79 percent, to 1,329.82. The Nasdaq Composite Index <.IXIC> added 19.99 points, or 0.73 percent, to 2,776.88.

(Editing by Kenneth Barry)