S&P 500 Hits New All-Time High

Business

0  Updated at 3:51 pm, February 28th, 2014 By: ABC Digital
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iStock/Thinkstock(NEW YORK) — The S&P 500, Wall Street’s broader stock market index, closed the week at a new all-time high of 1,859.45. It’s the second straight day the S&P has closed at record levels.
 
The Dow Jones Industrial Average closed up around 50 points at 16,321.71 — about 200 points from its all-time high.
 
The tech-heavy NASDAQ Composite finished Friday’s session 10 points lower at 4,308.12.
 
Stocks finished off their best levels of the day, with concerns about the situation in Ukraine late in the trading day leading to a final hour pull-back.
 
Overall, investors were cheered this week by solid reads on the mood of the consumer, better than expected news on housing and testimony from new Federal Reserve Chair Janet Yellen that reinforced that under her leadership the Fed will make sure it does what it needs to do to keep the economic recovery on track.
 
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