Dow, S&P set record highs
NEW YORK – The stock market closed out May mostly higher Friday, sending two out of the three major U.S. indexes to record highs.
Trading was uneven, and indexes moved between small gains and losses for most of the day.
A late push higher left the Dow Jones industrial average and Standard & Poor’s 500 at all-time highs, but just barely.
May was the best month for investors since February. The S&P rose 2.1 percent for the month, while the Dow rose 0.8 percent and the Nasdaq rose 3.1 percent.
“This market may have been choppy earlier in the year, but the trend is higher,” said Karyn Cavanaugh, a market strategist with Voya Investment Management, formerly known as ING Investment Management.
The Dow rose 18.43 points, or 0.1 percent, to close at 16,717.17, less than two points above its previous record high set on May 13.