S&P 500 closes at a record high as energy sector recovers
NEW YORK (AP) — A key U.S. stock index is back at a record high as the energy sector recovers along with the price of oil.
Encouraging earnings news from CBS and surprisingly strong economic growth in Europe also sent stocks higher Friday.
The Standard and Poor’s 500 rose eight points, or 0.4 percent, to 2,096. That’s six points above the record high it reached in December.
The Dow Jones industrial average climbed 46 points, or 0.3 percent, to 18,019. The Dow is about 30 points below its own record.
The Nasdaq gained 36 points, or 0.8 percent, to 4,893.
CBS rose 4 percent after reporting earnings that beat forecasts.
The price of oil rose $1.57 to $52.78 a barrel.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.04 percent.