The Standard & Poor's 500 index set an all-time closing high by a fraction of point

The Standard & Poor’s 500 index is flirting with a new milestone: 1,900. The index briefly climbed above that level on Tuesday before dropping back to close just below it.
By STEVE ROTHWELL, Associated Press Published: May 13, 2014
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The Standard & Poor’s 500 index is flirting with a new milestone: 1,900.

The index briefly climbed above that level on Tuesday before dropping back to close just below it.

Still, it set an all-time closing high by a fraction of point.

Stocks have gained as most investors remain optimistic that the economy will start to accelerate this year following a cold winter that stymied growth. First-quarter corporate earnings came in better than expected, giving stocks a lift.

Whether the S&P 500 climbs or falls back now depends on how the economy develops, said John Canally, chief market strategist for LPL Financial.

Associated Press