US stocks push further into record territory

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Associated Press

Posted on February 28, 2014 at 1:00 PM

Updated Friday, Feb 28 at 4:02 PM

NEW YORK (AP) — U.S. stocks are pushing further into record territory.

Investors were encouraged by a report that manufacturing expanded in the Midwest this month at a faster pace than economists were expecting.

The Standard & Poor's 500 index rose 13 points, or 0.7 percent, to 1,837 as of noon Friday. The index closed at a record high the day before.

The Dow Jones industrial average rose 110 points, or 0.7 percent, to 16,383. The Nasdaq composite rose 19 points, or 0.5 percent, to 4,338.

Nine of the 10 industries in the S&P 500 rose.

The S&P 500 index is up 5 percent this month, recovering all the ground it lost in January.

Bond prices fell. The yield on the 10-year Treasury note increased to 2.68 percent from 2.64 percent late Thursday.

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