THE central bank sponsored punch bowl is overflowing again and could transport US stocks to record highs.

Stocks rose last week and are set up for a strong finish to the month and the year after the Federal Reserve and the Bank of Japan (BOJ) gave markets another serving of their intoxicating brew. For the Fed, this could be last orders.

The Standard & Poor's 500 finished the week at 2,164, only about one per cent from its all-time high.