BUSINESS

Standard & Poor's 500 index reaches a record high leve1, led by technology stocks

04/10/2013 12:02 EDT | Updated 06/10/2013 05:12 EDT
NEW YORK, N.Y. - The Standard & Poor's 500 index is pushing through its previous all-time high set in October 2007 as stocks climb in midday trading on Wall Street.

The benchmark index is up 16 points, or 1 per cent, at 1,585, breaking its high of 1,576 set before the financial crisis.

Other indexes also rose Wednesday, led by technology stocks.

The Dow Jones industrial average rose 125 points, or 0.9 per cent, to 14,799. The Dow was on its way to another record high close, having set its latest one the day before. Intel was the biggest gainer in the Dow, up 3 per cent.

The Nasdaq composite index, which is heavily weighted toward technology stocks, rose even more than the Dow and S&P. The Nasdaq rose 1.6 per cent, or 52 points, to 3,290.