Stocks closed broadly higher Wednesday, after investors brushed aside another slide in Chinese stock prices.
The Dow Jones industrial average gained 111.74 points, to 13,633.08, the 47th record high close since last October and the 25th record this year. All but five of the 30 Dow industrials contributed to the gain, led by Caterpillar, Boeing and Exxon Mobil. Merck was the biggest loser in the session.
The broader Standard & Poor’s 500 index rose 12.12, to 1530.23, the first record high close since March 2000. Energy stocks were the biggest winners in the index, after oil prices resumed their climb in futures trading.
Exxon Mobil rose $1.38, to $84. Crude oil for July delivery rose 34 cents a barrel, to $63.49, after dropping $2.05 Tuesday.
Health-care stocks were the only major sector to post a loss in Wednesday’s session.
Peoria-based Caterpillar rose $2.73, to $78.48, reflecting optimism about global economic growth.
Caterpillar’s gain reflected a rally by Milwaukee-based mining equipment maker Joy Global. Joy Global shares jumped $4.95, or nearly 10 percent, to $55.76, after the company issued an upbeat forecast for profits in the coming 12 months.
Company officials predicted strength in demand for coal, copper and iron ore around the world, including the U.S.
Entertainment giant Viacom rose 65 cents, to $44.53. The company plans to repurchase as much as $4 billion of the $30.7 billion of its shares outstanding. The company has nearly completed a $3 billion buyback.
Coca-Cola gained 87 cents, to $53.05. Citigroup issued a “buy” rating on the stock.
The Nasdaq composite index added 20.53, to 2592.59, powered by gains by Apple, Google and Microsoft. The Russell 2000 index of small-company stocks rose 5.82, to 843.35, a record high close.
The Wilshire 5000 index, the broadest gauge of the U.S. stock market, reached its 13th record high of the year.
New York Stock Exchange trading volume was a moderate 1.56 billion shares. Winners outnumbered losers by more than a 2-1 ratio among NYSE-listed stocks. Nasdaq trading volume totaled 1.98 billion shares, as winners topped losers by about a 4-3 ratio.
Treasury securities ended mixed after a morning rally prompted by the Chinese stock market slide.
