The Dow Jones industrial average closed up 38.76 at 6,313.00, after marking six consecutive all-time closing highs in as many sessions. The Dow has gained more than 250 points so far this month.
Advancers outnumbered decliners by a 3-to-2 margin on the New York Stock Exchange, with 1,492 up, 997 down and 836 unchanged. NYSE volume totaled 478.55 million shares vs. 429.81 million yesterday.
The Standard & Poor's 500-stock index rose 4.75 to 735.88, and the NYSE's composite index rose 2.10 to 389.01. The Nasdaq composite index rose 8.38 to 1,269.10, and the American Stock Exchange index rose 1.05 to 585.36.
The long Treasury bond was up 1/2 point late in the day and yielding 6.42 percent.
Analysts were hard pressed to justify the market's seemingly unstoppable strength.
"There has been a stampede by buyers and a strike by sellers," said Michael Metz, Oppenheimer & Co.
Stocks started the day weaker along with bonds, as a raft of early economic reports looked mildly negative. But stocks and bonds turned around at mid-morning after investors decided that the retail sales, consumer price and unemployment claims data were not all negative.
Technology stocks continued a rally that began on Monday, when the semiconductor industry reported bullish chip sales.