Stocks advanced for the fourth straight session, with blue chips closing at a record high for the 48th time this year, propelled by strong U.S. data and a rally in shares of Apple.

The Dow Jones Industrial Average gained 73 points, or 0.5%, to 16295. The blue-chip index has gained 24% this year and has seen the biggest number of record closes in a year since 1995.

The...