The Dow Jones industrial average and the Standard & Poor's 500 index closed at record highs again, but the Nasdaq composite fell, dragged down by declines in big technology names.
The Dow rose 59.31 points, or 0.3 percent, to 19,083.18. The S&P 500 rose 1.78 points, or 0.1 percent, to 2,204.72. The Nasdaq declined 5.67 points, or 0.1 percent, to 5,380.68.
Small-company stocks continued to outpace the market. The Russell 2000 rose for the 14th trading day in a row.
Deere & Co. jumped after posting net income that was more than double the average analyst estimate; Eli Lilly & Co. tumbled after its Alzheimer's drug failed to slow the progress of the disease in a final-stage trial.
The Stoxx Europe 600 Index fell less than 0.1 percent. Bayer AG slumped after Monsanto Co. was sued over claims its chief executive and board members stand to improperly profit from the company's acquisition.
The dollar rallied to the highest level in more than a decade and bonds tumbled after Federal Reserve minutes and economic data bolstered wagers on higher U.S. interest rates.
The greenback rose against most of its major peers. Treasury yields surged to a 16-month high and the S&P 500 Index advanced to a record high. United Kingdom government bonds slumped after Chancellor of the Exchequer Philip Hammond said he would borrow more to increase spending. Gold fell below $1,200 an ounce for the first time since February, while oil traded near $48 a barrel.
Traders pushed down the value of bonds after better-than-estimated data, including demand for durable goods and manufacturing, supported the case for higher borrowing costs in the world's largest economy. Fed officials saw a strengthening case to raise interest rates as the labor market tightened, with some saying a hike should happen in December, according to minutes of their November gathering released Wednesday in Washington.
The yield on the 10-year Treasury note climbed four basis points, or 0.04 percentage points, to 2.35 percent, according to Bloomberg Bond Trader Data. Treasuries pared losses after a $28 billion auction of seven-year notes drew higher-than-average demand. The U.S. bond market will be closed Thursday for the Thanksgiving holiday. U.K. 10-year bonds fell for the first time in three days. Gemany's two-year notes halted a seven-day rally, pushing the yields up from a record low reached earlier Wednesday.
Oil was little changed after Iraq's prime minister said the country would participate in an OPEC output cut and data showed U.S. crude supplies slumped. Gold extended its monthly decline amid a dollar rally. Copper rose to a 16-month high as U.S. economic data bolstered the outlook for demand.