The S&P 500 Index eked out a third straight closing record, overcoming a drop in the price of crude that dragged energy shares lower as a let-up in the U.K.'s political turmoil kept demand for risk assets alive.

The S&P 500 Index added less than half a point after a 10-day surge restored almost $2 trillion to the value of shares. Energy producers led losses after crude sank below $45 a barrel amid an unexpected increase in fuel stockpiles. Treasuries advanced, halting the biggest two-day decline this year, as the U.S. auctioned 30-year bonds at the lowest yield on record. Copper rose along with precious metals.

While calm has returned to global markets amid higher confidence that the Brexit vote won't hamper growth, rallies in stocks lost momentum on Wednesday as investors looked for fresh signs that sluggish expansion isn't eroding corporate profits. America's largest lenders begin reporting Thursday. Risk assets had been in demand on speculation central banks will boost stimulus even as the American economy shows signs of accelerating..

The S&P 500 added less than 0.1 percent at 4 p.m. in New York, edging higher to a third-straight record close. So-called defensive groups that pay higher dividends climbed the most, with telephone, consumer-staples and utility companies rising at least 0.5 percent. Energy shares led declines out of 10 groups, while retailers and banks also retreated.