North American stock markets inched up to new record highs on a quiet day of trading.

The S&P/TSX composite index closed up 3.02 points at 17,035.88, the highest close to date.

In New York, the Dow Jones industrial average was up 55.21 points at 28,121.68. The S&P 500 index was up 6.88 points at 3,140.52, while the Nasdaq composite was up 15.44 points at 8,647.93.

The Canadian dollar traded for US75.26¢ compared with an average of US75.15¢ on Monday.

The January crude contract was up US40¢ at US$58.41 per barrel and the January natural gas contract was down US5.1¢ at US$2.53 per mmBTU.

The December gold contract was up US$3.40 at US$1,460.30 an ounce and the December copper contract was up three cents at US$2.68 a pound.