The Mortgage Bankers Association releases Weekly Mortgage Market Index at 7.00 a.m. EDT for the week ended March 9. The mortgage market index read 754.4 and the refinancing index was at 4,141.7 in the previous week.

Most of the largest U.S. banks passed their annual stress test, according to the Federal Reserve, in a conservative report card that underscored the recovery of the financial sector but called out a few laggards, including Citigroup.

The U.S. stock market posted its best day this year on Tuesday, with a late spark coming from JPMorgan Chase & Co (JPM.N) after the bank announced it will raise its dividend.

Trading in U.S. banks listed in Europe was thin. JPMorgan listed in Frankfurt (JPM.F) was up 5 percent after 546 shares changed hands in four trades. Bank of America was up 5.4 percent (BAC.F) after 12,000 shares traded in 13 moves. Citigroup (TRVC.DE) was up 0.8 percent on the Xetra platform.

The Commerce Department releases Q4 current account deficit numbers at 1230 GMT. Economists forecast a $114.2 billion deficit in Q4 versus a deficit of $110.28 billion in Q3.

The U.S. Federal Reserve gave few clues on Tuesday on the prospects for further monetary easing, offering just a slight upgrade to its economic outlook while restating concerns about the high level of unemployment.

The Labor Department releases at 8.30 a.m. EDT import-export prices for February. Economists forecast a 0.6 percent rise in import prices and a 0.2 percent increase in export prices. In the prior month, import prices rose 0.3 percent and export prices were up 0.2 percent.

Japan's Nikkei average .N225 climbed 1.5 percent to close above 10,000 for the first time in seven months.

European shares rose early on Wednesday to reach fresh 33-week highs, led by financials as the U.S. Federal Reserve improved its economic outlook for the world's largest economy and said most U.S. banks had passed its stress tests.

The FTSEurofirst 300 .FTEU3 index of top European shares was 0.8 percent higher after hitting a seven-and-a-half-month high earlier in the session.

The Dow Jones industrial average .DJI jumped 217.97 points, or 1.68 percent, to close at 13,177.68 on Tuesday. The Standard & Poor's 500 Index .SPX rose 24.86 points, or 1.81 percent, to 1,395.95. The Nasdaq Composite Index .IXIC climbed 56.22 points, or 1.88 percent, to 3,039.88.

(Reporting by Atul Prakash; Editing by Greg Mahlich)

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