International markets continued their winning run overnight, buoyed by positive US housing and inflation data.
Construction on new US homes surged more than expected in July, according to a Commerce Department report.
Separate data revealed consumer prices rose just 0.1% last month, lowering pressure on the Fed to raise interest rates.
Apple was a highlight among tech stocks, soaring to a new post-split all-time high and helping to push the Nasdaq to its highest close since March 2000.
European equities were the main beneficiaries from an easing of tensions between Russia and Ukraine.
Germany, which is a major trading partner with Russia, rose strongly again and widened its two-day gain to almost three percent.
Oil was the big story in commodity markets, plummeting another two percent to its lowest since January.
An easing of tensions in Ukraine has allayed fears of energy supply disruptions from Russia, removing crude’s risk premium and focusing trader attention to a global supply glut.
Elsewhere, aluminium rose another percent amid signs of supply shortages.
The greenback logged widespread gains against other currencies, largely due to the positive US housing data.