S&P 500 sets record closing high

The S&P 500 index reached a record closing high last night, climbing beyond the 1,565 level struck in October 2007, a year before the collapse of the Lehman Brothers.

The index, seen as more representative of corporate America than the Dow Jones Industrial Average, gained 6.34 points to 1,569.19. The Dow passed its own pre-crisis record about three weeks ago, as Wall Street welcomed signs that the US Federal Reserve would maintain its stimulus measures for the time being.