US stocks gained, with the Dow and S&P 500 hitting record highs on Thursday after Wal-Mart Stores Inc increased its profit outlook, lifting optimism about earnings. Technology shares extended a run up, led by bellwethers Google Inc, which was upgraded by several brokerages, and Apple Inc, which received a price target increase from Goldman Sachs.
The outlook from Wal-Mart, the world's largest retailer, overshadowed disappointing September sales from other retailers, including Target Corp and J.C. Penney Co Inc Shares of Wal-Mart, which notched their biggest advance in four months, rose 3.7 percent to $47.28 on the New York Stock Exchange.
The Dow Jones industrial average was up 97.55 points, or 0.69 percent, at 14,176.24. The Standard & Poor's 500 Index was up 11.82 points, or 0.76 percent, at 1,574.29. The Nasdaq Composite Index was up 19.61 points, or 0.70 percent, at 2,831.22.
While the Dow and S&P 500 hit all-time highs, the Nasdaq rose to its highest since January 2001. The Dow climbed as high as 14,185.26 intraday, while the S&P 500 jumped earlier to a peak at 1,575.19. The Nasdaq rose as high as 2,834.00.
On the Nasdaq, Apple shares climbed nearly 2 percent to $169.90, while shares of Google jumped 2.4 percent to $639.94. Earlier Google shares climbed to a record of $641.41.