KEY POINTS:
Wall Street closed for its third consecutive record high overnight.
Fresh economic data indicates some strength in the United States economy, but just moderate wage inflation.
The Institute for Supply Management says the giant services sector has enjoyed stronger-than-expected levels of activity in April.
Other figures show business productivity has improved more than forecast in the first quarter, but labour costs are more subdued, allaying inflation concerns.
Overall share price movements have been somewhat limited, with General Motors weighing on sentiment after the car maker posted disappointing first quarter profits, hurt by mortgage-related losses at its financing affiliate.
But computer chip maker, Intel Corporation, has provided a boost to the market, promising profit growth will outstrip revenues over the next two years.
On the New York Stock Exchange, the Dow Jones industrial average finished 29.5 points higher at 13,241.
The high-tech Nasdaq composite index added 8 points to clsoe at 2,565.
The S&P 500 index closed above 1,500 points for the first time in almost seven years.
US markets are now awaiting the latest employment figures, due out tonight.
- REUTERS