S&P 500 index ekes out another record high, its first of 2014; BofA leads rally in bank stocks

1/15/2014
ASSOCIATED PRESS
Wall-Street-Premarket-219

FILE - In this Tuesday, Jan. 14, 2014, file photo, Trader Richard Newman works on the floor of the New York Stock Exchange. Stock markets rose Wednesday Jan. 15, 2014 as an upbeat World Bank assessment of the global economic outlook underpinned buying spurred by stronger U.S. retail sales. (AP Photo/Richard Drew, File)

ASSOCIATED PRESS

NEW YORK — It was a squeaker, but the Standard & Poor’s 500 index closed at its first all-time high of 2014.

The S&P 500 closed up nine points today, or 0.5 percent, at 1,848.38. That’s just two-hundredths of a point above its previous high set on Dec. 31, 2013.

Other indexes also rose.

The Dow Jones industrial average climbed 108 points, or 0.7 percent, to 16,481. That’s 94 points short of the Dow’s own record high, also from Dec. 31.

The Nasdaq rose 31 points, or 0.8 percent, to 4,214.

Bank of America led other bank stocks higher with a 2 percent gain. It reported a surge in profit in the fourth quarter.

Technology stocks also rose sharply. Microsoft rose 2.7 percent and Apple gained 2 percent.