The S&P 500 has set a new record close as buyers pushed up stocks helped by a cautiously positive view of the economy from Federal Reserve Chair Janet Yellen.
A positive lead from Wall Street and a continuation of positive reaction to local earnings reports has helped take the sharemarket to its highest level in nearly six years.
The Australian dollar has fallen against a stronger US dollar following the release of Federal Reserve minutes showing it was determined to wind back its economic stimulus program.
US stocks have finished lower after minutes from the latest US Federal Reserve meeting showed some policymakers sought an early hike in the Fed's benchmark interest rate.
The Australian market closed slightly higher as gains from mining giant BHP Billiton's strong profit results were dragged down by a disappointing result from Coca-Cola Amatil.