S&P 500 Closes Above 1,900 for First Time on Home Sales
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The Standard & Poor’s 500 Index climbed to a record, closing above 1,900 for the first time, as Hewlett-Packard Co. rallied and data showed purchases of new homes climbed in April.
Hewlett-Packard jumped 6.1 percent after announcing more job cuts. GameStop Corp. rose 4.2 percent after reporting first-quarter earnings that topped analysts’ estimates. Aeropostale Inc. tumbled 25 percent after forecasting a bigger loss than analysts had estimated.