US stocks extend record run ahead of jobs report; Materials, industrial companies lead gains

IndustriesAssociated Press

A batch of good news on the economy helped push the stock market to new highs.

Payroll processer ADP said Wednesday that U.S. companies hired at a solid clip last month, boding well for the government's monthly job survey due out Friday. A separate report said the service sector was growing.

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Materials and industrial companies led the gains.

The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 2,074.

The Dow Jones industrial average rose 32 points, or 0.2 percent, to 17,912. The Nasdaq composite rose 18 points, or 0.4 percent, to 4,774.

The Dow and the S&P 500 are at record highs.

Crude oil rose 50 cents to $67.38 a barrel.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.28 percent.