THE S&P 500 has flirted with an all-time high as equity markets continue their upward march in the wake of strong labour data and bullish market sentiment.
At the closing bell overnight, the S&P 500, a broad-based index that includes all major segments of the US economy, finished at 1563.13, up 8.61 points, or 0.55 per cent. The all-time closing record of 1565.15 was set in October 2007.
The S&P 500 looked to follow in the footsteps of the Dow Jones Industrial Average, which broke its all-time record for the eighth straight day, closing at 14,537.99, up 82.71 points, or 0.57 per cent.
The tech-rich Nasdaq Composite index climbed 13.81 points, or 0.43 per cent, to 3258.93.
The trading was boosted by news that US jobless claims declined for the third week in a row, sinking 10,000 to 332,000.
"The stock market tends to lead the economy, whether the economy is expanding or contracting, by about six months," said Sam Stovall, chief investment strategist at Standard & Poor's.
"The implication is that investors believe the US economy and also the global economy is likely to see an improvement in its overall trajectory," Mr Stovall said.
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