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Standard & Poor's 500 index closes at record high

Friday - 2/28/2014, 12:14am  ET

FILE - In this Wednesday, Feb. 26, 2014, file photo, Trader Christopher Forbes, center, works on the floor of the New York Stock Exchange. The stock market is little changed as investors pick over more earnings reports from retailers and other U.S. companies. (AP Photo/Richard Drew, File)

STEVE ROTHWELL
AP Markets Writer

NEW YORK (AP) -- The Standard & Poor's 500 index is closing at a record high and has turned positive for the year.

The all-time high Thursday came after solid results from a number of U.S. companies including Mylan, a drug maker, and several retailers.

The S&P 500 has fallen just short of a record the previous three days.

On Thursday, the index increased nine points, or 0.5 percent, to 1,854, beating its Jan. 15 record by six points.

The Dow Jones industrial average rose 74 points, or 0.5 percent, to 16,272. The Nasdaq climbed 26 points, or 0.6 percent, to 4,318.

J.C. Penney jumped 25 percent after the department store operator swung to a profit in the fourth quarter after posting a big loss in the same period a year earlier.


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