In this Wednesday, Oct. 9, 2013 photo, specialists Peter Giacchi, left, and Patrick King confer at a trading post on the floor of the New York Stock Exchange. After a strong finish on Friday, investors are hoping the stock market rally will continue Monday, Oct. 28, 2013. (AP Photo/Richard Drew)
NEW YORK (AP) — It was another record day for stocks, but barely.
The Standard & Poor’s 500 index closed at an all-time high Monday, but by a small margin. The S&P 500 edged up 2.34 points, or 0.1 percent, to a record 1,762.11 after good news from J.C. Penney offset disappointing earnings from a few U.S. companies.
J.C. Penney rose the most in the index after the retailer’s CEO said sales were improving. That helped stocks overcome poor earnings and a weak forecast from drugmaker Merck. Roper Industries, a medical and industrial equipment manufacturer, also lowered its earnings estimate for the year.
The S&P 500 has performed well in October, closing at an all-time high six times. A deal in Washington that ended a partial government shutdown and Login to read more