US stocks at record high on positive Fed report



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(Close): US shares ended at fresh new highs on Wednesday after the release of the Federal Reserve's Beige Book for October and November

The survey of local Federal Reserve banks showed that the US recovery was progressing nationwide.

The Dow Jones rose 33.07 points to 17,912.62 while the S&P 500 index gained 7.78 points to 2,074.33 - new highs for both.

The tech-heavy Nasdaq index added 18.66 points to finish at 4,774.47.

Earlier in the day, a separate report by private sector payroll processor ADP said the private sector added 208,000 jobs in November, as against 233,000 in October.

The total was below the 225,000 that analysts had predicted, although still above the 200,000 mark.

General Electric was the biggest riser on the Dow, adding 1.27%.

Teen clothing retailer Abercrombie & Fitch also saw a jump in its share price by 3.48% even after reporting disappointing third-quarter results.