BUSINESS

S&P 500 index rises above its record closing high from October 2007 and keeps going

03/28/2013 12:10 EDT | Updated 05/28/2013 05:12 EDT
NEW YORK, N.Y. - The Standard & Poor's 500 index is trading above its previous closing high reached in October 2007, a year before the peak of the financial crisis.

The S&P 500 was up four points, or 0.3 per cent, at 1,567 shortly before noon Eastern time Thursday. That's two points above its record close.

The Dow Jones industrial average rose 46 points, or 0.3 per cent, to 14,572. The Nasdaq composite rose four points, 0.1 per cent, to 3,260.

Research In Motion, the maker of BlackBerry smartphones, rose 3 per cent to $14.95 after surprising analysts with a profitable quarter and better-than-expected sales of its touch-screen BlackBerry 10s.

The government reported that the U.S. economy grew faster than first estimated in the fourth quarter. However the annual rate of 0.4 per cent was still anemic.