Wall Street continued its rally for a third day on Thursday with the Dow Jones average setting a new record high of 12,765.01.

Federal Reserve Chairman Ben Bernanke told Congress that economic growth could be stronger than predicted, which gave investors reason to be cautious because the Fed would be less likely to lower interest rates.

However, Wall Street was pushed by company-specific news such as a share-buyback plan from Caterpillar Inc. and a sizable aircraft order for Boeing Co.

Caterpillar shares rose 2.2 percent as it announced plans for a 7.5 billion dollars share buyback over the next five years.

The stock Boeing Co. gained 2 percent after it confirmed an order for 27 of its 767-300 freighters.

The Dow Jones industrial average was up 23.15 points, or 0.18 percent, at 12,765.01, a record close. The Standard & Poor's 500 Index was up 1.51 points, or 0.10 percent, at 1,456.81. The Nasdaq Composite Index was up 8.72 points, or 0.35 percent, at 2,497.10.

Source: Xinhua