Dow, S&P 500 close at records; oil equities jump

Traders on on the floor of the New York Stock Exchange on Nov 18, 2014. The Dow and S&P 500 notched fresh records Thursday on strong US economic data and a jump in oil company shares. -- PHOTO: AFP 
Traders on on the floor of the New York Stock Exchange on Nov 18, 2014. The Dow and S&P 500 notched fresh records Thursday on strong US economic data and a jump in oil company shares. -- PHOTO: AFP 

NEW YORK (AFP) - The Dow and S&P 500 notched fresh records Thursday on strong US economic data and a jump in oil company shares thanks to rebounding crude prices.

At the closing bell, the Dow Jones Industrial Average stood at 17,716.40, up 30.67 points (0.17 per cent), besting the prior mark by about 30 points.

The broad-based S&P 500 gained 3.96 (0.19 per cent) to 2,052.68, also a new peak, while the tech-rich Nasdaq Composite Index rose 26.16 (0.56 per cent) to 4,701.87.

A regional manufacturing index from the Federal Reserve Bank of Philadelphia surged unexpectedly, while the Conference Board's Leading Economic Index, an amalgamation of several key economic indicators, also improved.

US existing-home sales gained in October for the second straight month.

Oil stocks including Apache (+3.1 per cent) and ConocoPhillips (+1.5 per cent) rose as US oil prices advanced.