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Article: By Madlen Read Associated Press NEW YORK -- [Derived headline]
- Article from:
- Burlington County Times
- Article date:
- May 22, 2007
CopyrightCopyright 2007 Burlington County Times. Provided by ProQuest LLC. (Hide copyright information)
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By Madlen Read
Associated Press
NEW YORK -- Wall Street reached another milestone during a muted session yesterday, when the Standard & Poor's 500 index briefly passed its record close of 1,527.46 for the first time in more than seven years.
The S&P 500, considered by market professionals the best indicator of stock performance, surpassed the mark shortly after noon following news of a fresh spate of takeover deals. The broad market index has lagged the Dow Jones industrial average in recovering from Wall Street's prolonged slump earlier this decade.
The S&P 500 rose as high as 1,529.87, then edged back to 1,525.10, up 2.35, or 0.15 percent, as cautious investors locked in some ...