U.S. stocks hit record highs Thursday as the S&P 500 completed its longest winning streak in four years.
The broad index gained 0.6 percent to 2,552.07, notching intraday and closing records. It was also posted an eight-day winning streak, its longest since 2013. The S&P 500 also had its sixth straight record close, the longest such streak since 1997.
Financials and information technology led advancers in the S&P 500. The move higher in financials follows a rise in yields sparked by the House passing a $4.1 trillion budget, the first concrete step toward tax reform.
"We got some good news on tax reform. Obviously, it's not a done deal but it's a step in the right direction," said JJ Kinahan, chief market strategist at TD Ameritrade. But "we still don't fully know who the winners and losers from tax reform will be."
The Nasdaq composite also hit intraday and closing records, advancing 0.8 percent to 6,585.36. The index was also on track to complete an eight-day winning streak.
The Dow Jones industrial average gained 113.75 points to 22,775.39, and notched intraday and closing all-time highs. Goldman Sachs and Boeing contributed the most to the gains.