US benchmark equity indexes rose Wednesday as traders evaluated the latest batch of economic data and corporate earnings and weighed comments by Federal Reserve Chair Jerome Powell.

* Powell said the strong US economy means the Federal Open Market Committee can afford to be "a little more cautious" when it comes to lower interest rates, noting that economic growth has been stronger than expected since September. Powell said the FOMC cannot make decisions based on the expected implication of tariffs until more details are known.

* The US services sector continued to expand in November with the Institute for Supply Management's data pointing to a slower growth rate sequentially, while S&P Global (SPGI) indicated an acceleration.

* "The (ISM survey) result does not influence our outlook for continued expansion in consumer spending, particularly on the services side, which will keep the economy humming along," Oxford Economics said.

* January West Texas Intermediate crude oil closed down $1.40 to settle at $68.54 per barrel, while February Brent crude, the global benchmark, was last seen down $1.09 to $72.53 despite expectations OPEC+ will likely again postpone a plan to return 2.2 million barrels of production to the market when the group meets Thursday, while a report showed U.S. inventories last week fell more than expected.

* Salesforce (CRM) shares jumped 11% as the customer relationship management platform posted fiscal Q3 revenue that surpassed the Street's estimates amid gains in subscription and support sales.

* General Motors (GM) expects a $5 billion profit hit amid competitive market conditions in China that will require restructuring operations in the country. The automaker's shares fell 0.6%.