European stock markets struggled to extend its winning run on Tuesday, closing only marginally higher after disappointing economic growth from Germany and the eurozone. The subdued trading activity Tuesday came as investors digested the latest readings on economic growth for Germany and the eurozone, which both came in weaker than expected.

U.S. stocks notched a fourth straight record close Tuesday with a rally in banks after Federal Reserve Chairwoman Janet Yellen signaled that the central bank could gradually raise interest rates sooner rather than later. During Yellen's testimony before the Senate Banking Committee, stocks flipped between small gains and losses but started carving out fresh intraday highs as the testimony wrapped up, adding to three straight days of record closes for the Dow industrials, S&P 500 and the Nasdaq.

Global investors plowed back into Asian equities Wednesday, following a bullish session in the U.S. overnight, after Federal Reserve Chairwoman Janet Yellen sounded upbeat during testimony on Capitol Hill.