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Stocks Close Higher for Fourth Straight Day, S&P 500 at Record

Stocks finished in positive territory for the fourth-consecutive session on Wednesday, with the S&P 500 touching a fresh high, as investors digested a batch of economic reports.

The Dow Jones Industrial Average closed unofficialy 40 points higher, the S&P 500 added 5 points to hit 1,890.90 and the Nasdaq rose 8 points.

On the economic front, U.S. private employers added 191,000 jobs in March, according to the ADP National Employment Report. Economists surveyed by Reuters likely showed a gain of 195,000 jobs.

"Bottom line, 191,000 was certainly a rebound from the past two months where job growth averaged 150,000 but 191,000 is little changed from the 2013 average of 187,000 and I think people were hoping for a bigger bounce back," wrote Peter Boockvar, managing director at The Lindsey Group.

The ADP report came ahead of the monthly government jobs report, due Friday. Economists polled by Reuters expect a gain of 197,000 new jobs in March. The U.S. created 175,000 jobs in February, exceeding expectations.

Also on the economic front, factory orders gained 1.6 percent in February, according to the Commerce Department, logging the biggest gain since last September. Economists polled by Reuters expected a gain of 1.2 percent.

Weekly mortgage applications declined amid lower financing demand, according to the Mortgage Bankers Association.

Google split its stock on Wednesday, with shareholders getting two shares for every one they owned. Class A shares will trade under a new ticker symbol "GOOGL" and the other, Class C, will trade under "GOOG." This now means the S&P 500 will technically have 501 components, though it will still have only 500 companies.