Value-hunters with big stakes in a particular component kept one of the main U.S. equity indexes in positive territory.

The S&P 500 was lifted 0.8%, looking at a record-high close. The Nasdaq composite gained 0.9%, after hitting a new intraday on the stock market today. Small caps on the Russell 2000 fared better than the major indexes and powered up 1.6%.

Stocks were lower Thursday, easing back from record highs, as investors grappled with a hotter-than-expected reading on July PPI.