The U.S. stock index rose toward new records on Thursday, with the Dow Jones industrial average hitting 34,000 for the first time.
Strong earnings reports and improved economic data boosted the Dow by 0.8% to around 34005 in afternoon trading. The S&P 500 rose 1%, putting both indices on track for record highs.
The technology-heavy Nasdaq Composite rose 1.2% as shares of major technology stocks rose.
A strong march has driven equities to repeated highs in 2021, and many investors believe the introduction of Covid-19 vaccines and the abundant government spending suggest that equities have room to keep rising. The S&P 500 and Dow are both up 11% for the year.
Investors will be watching the earnings reports in the coming weeks as they assess how the outlook for corporate earnings is in line with rising stock prices. Analysts expect earnings among companies in the S&P 500 to rise 29% in the first quarter over the same period a year earlier, according to FactSet.