NEW YORK: Technology shares pushed the S&P 500 and the Nasdaq to record highs on Thursday as optimism grew over a coronavirus stimulus bill, helping markets look past signs of economic strain brought on by the COVID-19 pandemic.

Technology stocks were among the best performing S&P sectors and hit a record high as their perceived resilience through the virus outbreak drove increased buying.

Consumer discretionary stocks, a sector primed to benefit from fresh stimulus also hit a record high, while utilities and materials shares marked large gains.

At 12:03 p.m. ET, the Dow Jones Industrial Average was up 113.92 points, or 0.38%, at 30,268.46, the S&P 500 was up 15.32 points, or 0.41%, at 3,716.49. The Nasdaq Composite was up 64.32 points, or 0.51%, at 12,722.51.—Reuters