S&P 500 closes at a record; Hewlett-Packard gains

A sign for Wall Street outside the New A sign for Wall Street outside the New York Stock Exchange in Manhattan on July 15, 2013. Photo Credit: AP

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Another round of buying on the stock market is sending the Standard & Poor's 500 index to its latest record high.

Traders were encouraged by earnings gains and a decline last week in the number of people applying for unemployment benefits.

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The S&P 500 rose five points, or 0.3 percent, to close at 1,992 Thursday. That's four points above the record close it reached July 24.

The Dow Jones industrial average gained 60 points, or 0.4 percent, to 17,039. The Nasdaq composite edged up five points, or 0.1 percent, to 4,532.

Hewlett-Packard rose 5 percent after the company reported its first sales increase in nearly three years. Sears fell 7 percent after reporting a wider loss.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.40 percent.

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