Regis Philbin
May 22nd, 2007, 01:42 AM
http://kdka.com/business/finance_story_141101025.html
Stocks Mixed To Begin Week
(AP) NEW YORK Wall Street reached another milestone during a muted session Monday, when the Standard & Poor's 500 index briefly passed its record close of 1,527.46 for the first time in more than seven years.
The S&P 500, considered by market professionals the best indicator of stock performance, surpassed the mark shortly after noon following news of a fresh spate of takeover deals. The broad market index has lagged the Dow Jones industrial average in recovering from Wall Street's prolonged slump earlier this decade.
The S&P 500 rose as high as 1,529.87, then edged back to 1,525.10, up 2.35, or 0.15 percent, as cautious investors locked in some profits after weeks of gains. The index's advance was driven by buying in non-technology sectors such as energy, materials, industrials and financials, S&P data showed. It is still well below its all-time trading high of 1,552.87 set on March 24, 2000, the same day the index reached its record close.
Stocks Mixed To Begin Week
(AP) NEW YORK Wall Street reached another milestone during a muted session Monday, when the Standard & Poor's 500 index briefly passed its record close of 1,527.46 for the first time in more than seven years.
The S&P 500, considered by market professionals the best indicator of stock performance, surpassed the mark shortly after noon following news of a fresh spate of takeover deals. The broad market index has lagged the Dow Jones industrial average in recovering from Wall Street's prolonged slump earlier this decade.
The S&P 500 rose as high as 1,529.87, then edged back to 1,525.10, up 2.35, or 0.15 percent, as cautious investors locked in some profits after weeks of gains. The index's advance was driven by buying in non-technology sectors such as energy, materials, industrials and financials, S&P data showed. It is still well below its all-time trading high of 1,552.87 set on March 24, 2000, the same day the index reached its record close.