NEW YORK May 27 The S&P 500 closed at a record
high for a second straight session on Tuesday, buoyed by the
latest round of merger activity and as expectations for rate
cuts at the European Central Bank stoked investors' appetite for
Based on the latest available data, the Dow Jones industrial
average rose 69.23 points or 0.42 percent, to finish
unofficially at 16,675.50. The S&P 500 gained 11.38
points or 0.60 percent, to end unofficially at 1,911.91. The
Nasdaq Composite added 51.26 points or 1.22 percent, to
close unofficially at 4,237.07.
The benchmark S&P 500 index also finished Friday's session at
a record high. The U.S. stock market was closed on Monday for
the Memorial Day holiday.
(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)