S&P closes above 1,500
ASSOCIATED PRESS January 25, 2013 8:26AM
FILE - In this Tuesday, Jan. 22, 2013, file photo, traders work in their booth on the floor of the New York Stock Exchange near the close of trading. Wall Street appeared headed for gains Friday Jan. 25, 2013 with Dow Jones industrial futures edging up on world markets. (AP Photo/Richard Drew, File)
Updated: January 25, 2013 3:22PM
NEW YORK — The Standard & Poor’s closed above 1,500 for the first time since the start of the Great Recession in 2007, lifted by strong earnings from Procter & Gamble and Starbucks.
The S&P 500 closed at 1,502, up eight points, or half a percent. It was the eighth straight gain, the longest winning streak since November 2004.
The Dow Jones industrial average closed at 13,825, up 46 points. The Nasdaq gained 19 points to 3,149.
Procter & Gamble, the world’s largest consumer products maker, rose 4 percent after reporting that its quarterly income more than doubled. Starbucks also rose 4 percent after reporting higher profits.
Rising stocks outnumbered falling ones 3 to 2 on the New York Stock Exchange. Volume was about average at 3.4 billion shares.
