This is the busiest week of the earnings season, with approximately 180 S&P 500 components scheduled to report.

Wall Street also set its sights on the Federal Reserve, as the central bank kicked off a two-day monetary policy meeting.

U.S. stocks closed higher on Tuesday after a slew of major companies reported better-than-expected quarterly results.

The S&P 500 rose 0.3 percent to hit intraday and closing records, with financials, materials and energy rising more than 1 percent to lead advancers. The index closed at 2,477.08

The Dow Jones industrial average rose 100.26 points to close at 21,613.43, with Caterpillar and McDonald's contributing the most gains.