No turkeys, just more record highs

Investors capped a day of light trading on Wall Street ahead of the Thanksgiving holiday by serving up another set of stock market record highs.

The Standard & Poor’s 500, Dow Jones industrial average and Nasdaq composite indexes closed at all-time highs for the third straight day Wednesday. And the Russell 2000 index of smaller companies hit its highest level in a year.

A batch of positive U.S. economic data helped spur the broad rally, extending the market’s recent string of gains. Stock indexes have been breaking records in recent weeks as the U.S. and China have signaled that negotiations aimed at resolving their costly trade war are going well.

The latest economic data helped keep investors in a buying mood. The Commerce Department said Wednesday that the economy grew at a 2.1% rate last quarter, outpacing forecasts. The government also reported a surprisingly good increase in orders to U.S. factories and a pickup in consumer spending.

The S&P 500 index rose 13.11 points, or 0.4%, to 3,153.63. The benchmark index is on a four-day winning streak. The Dow gained 42.32 points, or 0.2%, to 28,164. The Nasdaq climbed 57.24 points, or 0.7%, to 8,705.18. The Russell 2000 added 9.87 points, or 0.6%, to 1,634.10.

Stocks have regained their footing after stumbling last week. The S&P 500 is on track for a 1.4% weekly gain as it continues setting records. The Nasdaq is up 2.2% for the week, which would mark its strongest gain since the end of summer.

Technology stocks and companies that rely on consumer spending notched some of the biggest gains Wednesday. Autodesk climbed 5.5% and Under Armour gained 6.2%.

Industrial companies lagged the market. Deere slid 4.3% after giving a weak profit forecast because farmers are spending less money on new equipment. Boeing fell 1.5% after federal safety regulators indicated that they will keep full control over approvals of each new 737 Max built. The Federal Aviation Administration’s decision affects more than 300 finished Max jets sitting in storage.

Benchmark crude oil fell 30 cents to $58.11 a barrel. Brent crude oil, the international standard, dropped 21 cents to $64.06 a barrel.

U.S. markets will be closed Thursday for Thanksgiving. They’ll be open for a half day Friday.