The Dow and S&P 500 powered to fresh records Friday amid rising optimism over an economic recovery as coronavirus vaccines become increasingly available.
Banking and petroleum-linked shares were among the leaders as tepid consumer pricing data reassured investors that inflation remains limited even as the economy picks up momentum.
"This period of hesitation and rotation going on since mid-February is coming to an end," said Karl Haeling of LBBW, who expects a strong April for stocks.
The Dow Jones Industrial Average jumped 1.4% to 33,072.88, topping a record set earlier this month.
The S&P 500 gained 1.7% to 3,974.54, also a record, while the tech-rich Nasdaq Composite Index gained 1.2% to 13,138.73.
Commerce Department data showed prices grew less than expected at 0.2% in February, which was 1.6% higher than the year-ago period, easing fears that government stimulus measures would cause inflation and force the Federal Reserve to raise interest rates sooner than expected.
JPMorgan Chase jumped 1.7% while Bank of America advanced 2.7% following the Federal Reserve's announcement that most financial institutions could resume share buybacks and dividend payouts after June 30.
Petroleum producers Apache, EOG and Marathon all won at least 2.0% behind rising confidence in an economic recovery that boosts oil demand.