Positive economic reports send S&P 500 to five-year high
BY Staff and Wire reports
Friday, January 18, 2013
1/18/13 at 4:52 AM
The Standard and Poor's 500 index climbed to a five-year high Thursday after strong reports on the economy made investors more optimistic.
The S&P 500 gained 8.31 points to close at 1,480.94, its highest level since December 2007.
U.S. builders started work on homes in December at the fastest pace since the summer of 2008, the Commerce Department said Thursday. Meanwhile, the Labor Department said the number of Americans seeking unemployment benefits fell to a five-year low last week.