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S&P 500 edges up to new record

Friday, May 15, 2015 - 02:00

Stocks had a quiet session on Friday but the S&P 500 still managed to hit a new record close, and all the major indexes were higher for the week. Bobbi Rebell reports.

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A quiet last session of the week on Wall Street but the S&P 500 crept higher to a record close. The major indexes closed mixed. For the week all the major indexes were higher. And for the 9th week in a row U.S. crude futures were higher- though they took a step back on Friday. Weighing on investors: consumer sentiment falling to its lowest level since fall, sliding industrial output, and economists cutting their growth forecasts for the current quarter and full year. Pandora's shares falling.The internet radio service said it'll appeal a court ruling that could hike the royalties it has to pay for music licenses. Google says its self-driving car will be tested on the public roads of Northern California this summer. Edmunds.com senior editor John O'Dell: SOUNDBITE: JOHN O'DELL, SENIOR EDITOR, EDMUNDS.COM (ENGLISH) SAYING: "They're only allowed on streets, I believe, under 35 miles per hour or less. The cars themselves are only capable of going 25 miles per hour, so you won't see them on the freeways or big highways." Netflix shares soared above the $600 for the first time. The Wall Street Journal reports the video streaming company is in talks with Chinese companies to enter the Chinese market. Among them: Wasu Media, which is backed by Alibaba founder Jack Ma. Netflix was the biggest gainer on the S&P 500 and Nasdaq 100. The biggest loser on both those indices: Keurig Green Mountain. UBS and CLSA cut their price targets, saying its new cold brewing system is priced too high and the launch is taking longer than expected. Bloomberg reports that it won't be available in stores until next year. Losing even more ground: El Pollo Loco. The restaurant chain operator's quarterly revenue grew slower than expected, and it issued a disappointing forecast. Weak U.S. data sent the dollar lower against the euro, and that sent European shares lower. Hardest hit: German exporters.

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S&P 500 edges up to new record

Friday, May 15, 2015 - 02:00