Energy and materials led broad gains that included all 10 of the S&P's major industry groups.
Some big numbers are now within close reach: The Dow climbed above 15,900 for the first time ever and now sits just 40 points from 16,000, the S&P is a mere two points away from 1800, and the Nasdaq is 15 points away from 4000 for the first time in 13 years.
J.P. Morgan's Thomas Lee boosted his S&P year-end target to 1825, citing improving economic momentum, valuations vs. corporate bonds, supportive monetary policy and sentiment that “is not excessively bullish.”
The 10-year Treasury fell following a two-day rally, raising the yield to 2.712%.
Crude oil futures inches higher but finished a sixth consecutive week of losses.