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S&P 500 pushes further into record territory

October 18, 2013

NEW YORK (AP) — The Standard & Poor’s 500 index is rising further into record territory, driven by strong earnings from big U.S. companies.

General Electric, Morgan Stanley and Google all rose after reporting higher profits than financial analysts were expecting. Google topped $1,000 a share for the first time.

Investors were also encouraged by a rebound in Chinese economic growth in the latest quarter.

Two days after Congress voted to increase the U.S. debt ceiling and reopen the government, the S&P 500 rose six points, or a third of a percent, to 1,740, as of noon Eastern Daylight Time. It closed at a record Thursday.

The Dow Jones industrial average slipped seven points to 15,364. The Nasdaq composite was up 33 points, or 0.9 percent, at 3,896.

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