Stocks Close Higher; S&P Breaks Record

NEW YORK (February 27, 2014) The Standard & Poor's 500 index closed at a record high Thursday and turned positive for the year in the process.

The all-time high Thursday came after reports of solid results from a number of U.S. companies including Mylan, a drug maker, and several retailers.

The S&P 500 has fallen just short of a record the previous three days.

On Thursday, the index increased nine points, or 0.5 percent, to close at 1,854, beating its Jan. 15 record by six points.

The Dow Jones industrial average rose 74 points, or 0.5 percent, to end at 16,272 Thursday.

The Nasdaq climbed 26 points, or 0.6 percent, to close at 4,318.

J.C. Penney jumped 25 percent after the department store operator swung to a profit in the fourth quarter after posting a big loss in the same period a year earlier.

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