S&P 500 reaches new crest
NEW YORK The stock market overcame a morning slide to finish modestly higher, giving the Standard & Poor's 500 index another record close and its sixth straight month of gains.
The S&P 500 edged up three points to 1,597, an increase of 0.2 percent.
Its 1.8 percent gain in April marked the longest advance since the seven months ending in September 2009, as the market was emerging from its low point during the financial crisis.
- U.S. economy falls short of forecasts
- Feds: Pay in U.S. growing at a faster rate
- Consumer confidence up on better hiring outlook
The Dow Jones industrial average rose 21 to close at 14,839, an increase of 0.1 percent. IBM (IBM) led the Dow higher after announcing a dividend increase.
The Nasdaq rose 21 points, or 0.7 percent, to 3,328.
Two stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 3.5 billion shares.