(MENAFN- ProactiveInvestors) U.S. stocks rose Wednesday with both the Dow and the S&P 500 finishing at new records as energy stocks got a lift from a modest rally in oil prices and some upbeat data.
At the closing bell in New York the Dow Jones Industrial Average settled up 32 points at 17912 while the Nasdaq added 18 points to 4774 and the S&P 500 climbed 7 points to end at 2074.
The gains build on those from Tuesday when the Dow recorded its first triple digit gain in a month on better-than-expected construction spending and auto sales reports.
On Wednesday ADP said private sector employment increased by 208000 jobs from October to November. Economists were expecting an increase of 225000 jobs according to Bloomberg. The latest figure is down from an increase of 233000 jobs in October which was revised higher by 3000.
Meanwhile U.S. productivity gain in the third quarter was raised to 2.3% from 2% in line with estimates. Later in the morning the ISM non-manufacturing index rose to 59.3 in November versus 57.1 in October better than anticipated as strength in new orders is keeping up business activity.
In the afternoon investors got a read of the latest Beige Book which showed U.S. economic activity increased in October and November and was moderately positive with contacts in a number of the 12 Fed districts remaining optimistic about the outlook.
European markets finished mostly in the green today even as more evidence was released that Europe's economy is faltering. Business activity in the eurozone fell to a 16-month low in November. Markets in Asia finished higher apart from Hong Kong where the Hang Seng index fell 0.95% as pro-democracy protestors stood their ground at protest sites in key parts of the Hong Kong financial district today.
In corporate activity teen retailer () rose 3.5% even after the company cut its full year outlook as third quarter earnings per share topped estimates despite challenges.
Spirits maker () lowered its earnings outlook as it reported results that also fell below analysts' expectations. Shares settled down 3.9% Wednesday.
() fell more than 14% as despite reporting better-than-expected earnings last night its revenue for the quarter missed estimates. The restaurant chain also cut the top end of its full year earnings outlook.
After today's closing bell () and PVH Corp () are among those companies reporting quarterly results.
In other stock news () has signed a $1.25 billion cloud services contract with Group (NYSE:) -- its third such contract in the last month.
As the () antitrust trial continued today the company has been issued a patent for a design that prevents an iPhone from breaking when dropped.
Puma Biotechnology (NYSE:PPBYI) tanked over 12% after the pharmaceutical company delayed its breast-cancer drug application to early 2016.
January crude rebounded some after American Petroleum Institute data late Tuesday showed a sharp fall in U.S. crude inventories. On the New York Mercantile Exchange light sweet crude futures for January delivery rose 0.8% to finish at $67.38 a barrel.
Gold for February delivery increased 0.8% to settle at $1208.70 an ounce.
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