 "Wall Street edges higher as S&P 500 tops record close")
Stocks edged higher on Thursday, with the S&P 500 rising just above its record closing high, which has acted as a significant resistance point in recent weeks. The S&P had been caught in a range, having traded within 10 points of the record closing high of 1,565.15 over the prior 13 sessions before successfully piercing that level on Thursday, while buyers moved in on signs of weakness to quickly eliminate any declines.
A close above the record level could signify more gains, although investors may tread lightly with government payroll data and corporate earnings season on the horizon.
"A close at a high is good for investor confidence. It may attract a little bit of near term activity," said Fred Dickson, chief market strategist at D A Davidson & Co in Lake Oswego, Oregon.
The Dow Jones industrial average gained 43.12 points, or 0.30 per cent, to 14,569.28. The Standard & Poor's 500 Index gained 3.60 points, or 0.23 per cent, to 1,566.45. The Nasdaq Composite Index gained 3.64 points, or 0.11 per cent, to 3,260.16.
US stocks were set to close out a strong quarter with the S&P 500 up 9.8 per cent for the first three months of 2013. The Dow was up 11.2 per cent and the Nasdaq up 8 per cent. For the month, the S&P is up 3.4 per cent, the Dow is up 3.7 per cent and the Nasdaq is up 3.1 per cent.
Thursday is the US stock markets' last trading day of the quarter due to the Good Friday holiday.
A close above the record level could signify more gains, although investors may tread lightly with government payroll data and corporate earnings season on the horizon.
"A close at a high is good for investor confidence. It may attract a little bit of near term activity," said Fred Dickson, chief market strategist at D A Davidson & Co in Lake Oswego, Oregon.
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"We are still trying to climb a grudging wall of worry regarding economic momentum and that means we are not going to sprint ahead as we take off into April."
The Dow Jones industrial average gained 43.12 points, or 0.30 per cent, to 14,569.28. The Standard & Poor's 500 Index gained 3.60 points, or 0.23 per cent, to 1,566.45. The Nasdaq Composite Index gained 3.64 points, or 0.11 per cent, to 3,260.16.
US stocks were set to close out a strong quarter with the S&P 500 up 9.8 per cent for the first three months of 2013. The Dow was up 11.2 per cent and the Nasdaq up 8 per cent. For the month, the S&P is up 3.4 per cent, the Dow is up 3.7 per cent and the Nasdaq is up 3.1 per cent.
Thursday is the US stock markets' last trading day of the quarter due to the Good Friday holiday.