Dow, S&P close at record highs in broad rally

NEW YORK (Reuters) - U.S. stocks climbed 1 percent on Wednesday, with both the Dow and the S&P 500 ending at historic highs as cyclical shares led the way higher for a second straight day.

The Dow Jones industrial average gained 128.86 points, or 0.88 percent, to end unofficially at 14,802.32. The Standard & Poor's 500 Index rose 19.11 points, or 1.22 percent, to finish unofficially at 1,587.72. The Nasdaq Composite Index climbed 59.40 points, or 1.83 percent, to close unofficially at 3,297.25.

(Reporting by Chuck Mikolajczak; Editing by Jan Paschal)