(CNBC) The Dow Jones industrial average rose to an all-time high on Thursday as investors bet economic growth would pick up steam.

The index rose 135 points to a record high, led by Boeing, General Electric and Caterpillar. These names stand to benefit the most if economic growth ratches up.

The Nasdaq composite also hit a record high, as shares of Apple gained 0.4 percent. The S&P 500 gained 0.5 percent and reached an all-time high, with energy and industrials as the best-performing sectors.

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