S&P 500 Surpasses 1,600 as U.S. Stocks Advance for Second Week
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U.S. stocks rose to successive records during the week and the Standard & Poor’s 500 Index traded above 1,600 for the first time, extending a 2013 rally fueled as individuals and professionals alike increased bullish bets.
The S&P 500 climbed 2 percent to 1,614.42 for the week. The Dow Jones Industrial Average briefly surpassed 15,000 on May 3 and ended the week up 261.41 points, or 1.8 percent, to 14,973.96. Microsoft Corp., International Business Machines Corp. and Walt Disney Co. led the Dow’s advance during the week, gaining at least 4.7 percent.