At the closing bell, the S&P 500, a broad-based index that includes all major segments of the US economy, finished at 1,563.13, up 8.61 points (0.55 percent). The all-time closing record of 1,565.15 was set in October 2007.
The S&P 500 looked to follow in the footsteps of the Dow Jones Industrial Average, which broke its all-time record for the eighth straight day, closing at 14,537.99, up 82.71 (0.57 percent).
The tech-rich Nasdaq Composite index climbed 13.81 (0.43 percent) to 3,258.93.
The trading was boosted by news that US jobless claims declined for the third week in a row, sinking 10,000 to 332,000.
“The stock market tends to lead the economy, whether the economy is expanding or contracting, by about six months,” said Sam Stovall, chief investment strategist at Standard & Poor’s.
“The implication is that investors believe the US economy and also the global economy is likely to see an improvement in its overall trajectory,” Stovall added.