Standard & Poor's 500 index closes above 1,900 for the first time; GameStop, H-P rise

5/23/2014
ASSOCIATED PRESS
  • Wall-Street-699

    Trader Thomas McCauley, left, and specialist Donald Civitanova work on the floor of the New York Stock Exchange, Friday, May 23, 2014. Stocks inched higher early Friday in quiet trading ahead of the Memorial Day weekend. (AP Photo/Richard Drew)

    ASSOCIATED PRESS

    • NEW YORK -- The Standard & Poor’s 500 index closed above 1,900 for the first time today.

    Homebuilder stocks rose after the government reported that sales of new homes increased last month. Investors also bid up shares in GameStop and Hewlett-Packard after the companies reported positive earnings.

    Trading was relatively quiet ahead of the Memorial Day holiday weekend.

    The S&P 500 gained eight points, or 0.4 percent, to close at 1,900.53 Friday. That’s three points above the index’s previous all-time high close 10 days ago. It’s up 2.8 percent for the year.

    The Dow Jones industrial average rose 63 points, or 0.4 percent, to 16,606.

    The Nasdaq composite added 31 points, or 0.8 percent, to 4,185.

    The yield on the 10-year Treasury note fell to 2.53 percent.