(CNBC) U.S. stocks closed higher on Wednesday following the release of strong economic data.
The Dow Jones industrial average hit a record high and finished 20 points higher. 3M and UnitedHealth contributed the most to the gains.
The S&P 500 gained 0.1 percent and also notched a record, with utilities and real estate leading advancers. The S&P also extended its winning streak to seven days, its longest since May.
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The index continues "to benefit from positive short-term momentum. The breakout from September's consolidation phase refreshed the uptrend, and should help stave off a pullback until later this month," said Katie Stockton, chief technical strategist at BTIG, in a note.