US stocks rallied on Wednesday, pushing the Dow average above 13,000 for the first time and the Nasdaq and the S&P 500 to multi-year highs, buoyed by solid profits and Alcoa Inc's plan to sell a business unit.

Shares of Alcoa, the world's largest aluminium company and a Dow component, led the advance of the blue-chip index, while shares of internet retailer Amazon.com Inc powered the Nasdaq to its highest level in a little more than six years.

Investor sentiment also rose on reassuring economic data, as durable goods - costly and long-lasting manufactured items - rose more than expected in March.

The Federal Reserve's Beige Book economic report also lent support with news that most U.S. regions experienced modest or moderate growth between the end of February and mid-April, while prices were generally stable.

The S&P 500 hit a six-and-a-half-year high, with stocks such as Exxon Mobil Corp contributing to the rise.

Alcoa shares rose as much as 6.0 per cent, the most in more than two months, after the company said it would explore strategi for its packaging arm, which makes Reynolds Wrap.

Amazon rose on stronger-than-expected profits, one of several companies that beat expectations.

The online retailer said late on Tuesday its quarterly profit more than doubled. Amazon shares jumped more than 25 per cent to US$56.09, and recorded their biggest advance since November 2001.

Started with Amazon

"This run-up started with Amazon this morning and the durable goods orders," said Angel Mata, managing director of listed equity trading, Stifel Nicolaus Capital Markets.

"Not only are we seeing good earnings, we're seeing very positive forecasts from those companies reporting those earnings."

The Dow Jones industrial average was up 110.52 points, or 0.85 per cent, at 13,064.46.

The Standard & Poor's 500 Index was up 12.93 points, or 0.87 per cent, at 1,493.34. The Nasdaq Composite Index was up 24.07 points, or 0.95 per cent, at 2,548.61.

In the afternoon, the Dow leaped to 13,068.77, an intraday record, as the data for durable goods in March helped calm investor concerns about the economy.

Alcoa stock was up 5.9 per cent at $36.03 on the New York Stock Exchange, shares of energy company Exxon rose along with oil prices to trade up 1.8 per cent at US$80.03 on the NYSE.

Aerospace manufacturer Boeing Company also posted stronger-than-forecast earnings. The stock rose 0.4 percent to $94.06 on the NYSE, near its record high of $94.72 set last week.

Housing data kept a lid on shares of home builders but failed to dampen the gains in the broader market. New-home sales rose in March but fell short of the pace forecast by analysts.

- Reuters