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Stocks inch up as Boeing shares take off

Specialist Joseph Dreyer, center, and trader Sean Spain,

Specialist Joseph Dreyer, center, and trader Sean Spain, right, work on the floor of the New York Stock Exchange Friday. (July 12, 2013 Credit: AP

Boeing helped the stock market edge higher Monday, extending a scorching start to July.

The plane maker's stock was one of the standouts as the Standard & Poor's 500 index rose for an eighth straight day, its longest streak of gains since January.

The Boeing Co. gained $3.79, or 3.72 percent, to $105.66 after it was found that batteries were not the cause of a fire on one of its 787 aircraft at London's Heathrow airport Friday. Earlier this year, smoldering batteries on two 787s caused the plane to be grounded for more than three months.

Citigroup Inc. gained Monday, leading other bank stocks higher, after reporting earnings that beat analysts' expectations for the second quarter. The bank's stock rose $1, or 1.97 percent, to $51.81.

Stocks rose to record levels last week after Federal Reserve Chairman Ben Bernanke said the central bank would not ease its stimulus before the economy was ready.

The Dow Jones industrial average rose 19.96 points to close at 15,484.26. The Standard & Poor's 500 index rose 0.14 percent to 1,682.50. Both the Dow and S&P are at all-time highs.

The Nasdaq composite rose 0.21 percent to 3,607.49. Small-company stocks had the biggest gains Monday. -- AP

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