S&P Cracks 1,400 For First Time Since 2008

The Standard & Poor's 500 index has closed above 1,400 for the first time since June 2008, three months before the financial crisis.

Preliminary figures show the S&P closing up eight points at 1,403. The Dow Jones industrial average is finishing up 59 at 13,253, its highest close since December 2007. The Nasdaq composite index is ending the day up 16 at 3,056.

The Dow has closed higher seven days in a row, the longest streak since February 2011.

Traders were encouraged Thursday by economic data on unemployment and wholesale prices.

Advancing stocks outnumbered decliners by about 3-to-2 on the New York Stock Exchange. Volume was slightly lighter than average at just under 4 billion shares.

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