Wall Street moved to record highs, though equities seesawed, as investors digested two corrections of the latest monthly Institute for Supply Management's manufacturing data.
In the final hour of trading in New York, the Dow Jones Industrial Average rose 0.14 per cent, while the Standard & Poor's 500 Index added 0.06 per cent. The Nasdaq Composite Index fell 0.30 per cent.
Earlier in the day, the Dow rose to a record 16,746.81, while the S&P 500 climbed to a high of 1,925.38.
The Institute for Supply Management's manufacturing index strengthened to 55.4 in May, up from 54.9 a month earlier. ISM corrected its May data twice after incorrect seasonal adjustments. ISM first reported the gauge fell to 53.2 in May, then said the correct reading was 56.0, before finally correcting it to 55.4.
"People are still looking for signs that the economy is recovering, and the first ISM number had people questioning the strength of the economy," John Carey, portfolio manager at Pioneer Investment Management in Boston, told Reuters. "This revision gives us more reason to be confident, and it isn't surprising to see stocks recover a bit, since we're so sensitive to data right now."