News Summary: S&P 500 closes above 1,400 points

AP News
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Posted: Aug 07, 2012 5:14 PM
News Summary: S&P 500 closes above 1,400 points

MILESTONES: The Standard & Poor's 500 index closed above 1,400 and the Nasdaq composite index closed above 3,000 for the first time since early May.

ENERGY HIGHER: Chesapeake Energy reported that its income doubled in the second quarter. Revenue from oil, natural gas and natural gas liquids rose. Chesapeake's stock soared $1.67 to $19.37, lifting other energy stocks with it, making energy the best performing sector in the S&P 500.

MORE JOBS: The Labor Department said U.S. employers posted the most job openings in four years in June, a positive sign that hiring may pick up. Layoffs also fell.