NEW YORK ( TheStreet) -- Stocks' gains accelerated into Wednesday's close as U.S. averages finished roughly 3% higher, and the Dow closed above the 10,000 mark. The Dow soared 275 points, or 2.8%, to close at 10,018. The S&P 500 gained 32 points, or 3.1%, to 1060, and the Nasdaq added 66 points, or 3.1%, to 2160. State Street's ( STT) better-than-expected profit forecast ahead of its July 20 earnings report was giving a boost to the financial sector as the Financial Select Sector SPDR ( XLF) ETF rose 3.2%. State Street's stock soared nearly 10%, and shares of Bank of America ( BAC), JPMorgan Chase ( JPM), Morgan Stanley ( MS) and Wells Fargo ( WFC) each finished up by well over 4%. Earlier, China's State Administration of Foreign Exchange sought to calm concerns about its vast holdings of U.S. government debt. The central bank arm said its investment decisions aren't politically motivated, but are made to maximize returns, according to a Reuters report. Overseas on Wednesday, Hong Kong's Hang Seng fell 1.1% while Japan's Nikkei slipped 0.6%. The FTSE in London added 1%, and the DAX in Frankfurt gained 0.9%.