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S&P 500 soars over record high

UPDATE: Standard & Poor's 500 stock index closes at all-time high of 1,569, beating October 2007 mark.

NEW YORK (AP) — The Standard & Poor's 500 index is trading above its previous closing high reached in October 2007, a year before the peak of the financial crisis.

The S&P 500 was up four points, or 0.3 percent, at 1,567 shortly before noon Eastern time Thursday. That's two points above its record close.

The Dow Jones industrial average rose 46 points, or 0.3 percent, to 14,572. The Nasdaq composite rose four points, 0.1 percent, to 3,260.

Research In Motion, the maker of BlackBerry smartphones, rose 3 percent to $14.95 after surprising analysts with a profitable quarter and better-than-expected sales of its touch-screen BlackBerry 10s.

The government reported that the U.S. economy grew faster than first estimated in the fourth quarter. However the annual rate of 0.4 percent was still anemic.

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