Standard & Poor's 500 climbs to all-time highThe S&P 500 climbed as high as 1,579.96, above its all-time high of 1,576.09 set in October 2007.
By: Steve Rothwell, Associated Press
NEW YORK — Stocks rose in early trading on Wall Street today, pushing the Standard & Poor's 500 index to an all-time high.
The S&P 500 climbed as high as 1,579.96, above its all-time high of 1,576.09 set in October 2007. The index was trading up 9.9 points, or 0.6 percent, at 1,576 as of 9:18 a.m. CDT. The Dow Jones industrial average rose 73.47 points, or 0.5 percent, to 14,746.21.
The Federal Reserve released the minutes of its March policy meeting ahead of schedule. The minutes indicated that some Fed members wanted to end the bank's stimulus program relatively soon, saying the costs likely outweigh the benefits. The Fed's stimulus program has been one of the key factors driving stocks higher this year.
In other trading the Nasdaq composite rose 34 points, or 1.1 percent, to 3,273.
The information technology industry was the best performer of the 10 industry groups in the S&P 500, gaining 1.1 percent. The industry has been among the worst performers this year, advancing just 4 percent, while the broader market has risen 10.8 percent.
The yield on the 10-year Treasury note rose to 1.78 percent from 1.75 percent late Tuesday.