NEW YORK May 23 The S&P 500 closed at a record
on Friday, boosted by a better-than-expected reading on the
housing market, which gave a lift to homebuilding stocks.
Hewlett-Packard's stock, which was the S&P 500's best performer,
rallied a day after the personal computer maker reported results
and said it may cut up to 16,000 jobs.
Based on the latest available data, the Dow Jones industrial
average rose 63.19 points or 0.38 percent, to end
unofficially at 16,606.27. The S&P 500 gained 8.04 points
or 0.42 percent, to finish unofficially at 1,900.53, a record
high. The Nasdaq Composite added 31.47 points or 0.76
percent, to close unofficially at 4,185.81.
For the week, the Dow rose 0.7 percent, while the S&P 500
gained 1.2 percent and the Nasdaq climbed 2.3 percent.
(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)