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Stock Market

Standard & Poor's 500 index closes at a record high; Hewlett-Packard gains on better results

  • Financial-Markets-Wall-Street-20

    Trader Edward McCarthy, left, works on the floor of the New York Stock Exchange, Thursday, Aug. 21, 2014. U.S. stocks are opening higher, pushing the Standard & Poor's 500 index closer toward another record high. (AP Photo/Richard Drew)

    ASSOCIATED PRESS

  • Financial-Markets-Wall-Street-21

    Czech Tomas Berdych, the 2014 U.S. Open tennis tournament sixth seed, center, and Fabrizio Sestini, ATP marketing director, right, visit with specialist Glenn Carell on the floor of the New York Stock Exchange, after Berdych rang the NYSE opening bell, Thursday, Aug. 21, 2014. (AP Photo/Richard Drew)

    ASSOCIATED PRESS

  • Financial-Markets-Wall-Street-22

    Trader Tommy Kalikas, center, works on the floor of the New York Stock Exchange Thursday, Aug. 21, 2014. U.S. stocks are opening higher, pushing the Standard & Poor's 500 index closer toward another record high. (AP Photo/Richard Drew)

    ASSOCIATED PRESS

NEW YORK — Another round of buying on the stock market is sending the Standard & Poor’s 500 index to its latest record high.

Traders were encouraged by earnings gains and a decline last week in the number of people applying for unemployment benefits.

The S&P 500 rose five points, or 0.3 percent, to close at 1,992 today. That’s four points above the record close it reached July 24.

The Dow Jones industrial average gained 60 points, or 0.4 percent, to 17,039. The Nasdaq composite edged up five points, or 0.1 percent, to 4,532.

Hewlett-Packard rose 5 percent after the company reported its first sales increase in nearly three years. Sears fell 7 percent after reporting a wider loss.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.40 percent.

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