News Summary: S&P 500 reaches edges to 5-year high

AP News
Posted: Feb 08, 2013 5:11 PM

FIVE-YEAR HIGH: The Standard & Poor's 500 edged up Friday to close at its highest level since November 2007. Stocks got an early lift from a report that showed the trade deficit shrank in December.

THE RALLY LIVES ON: The S&P advanced for a sixth straight week, extending its streak of gains, despite logging its biggest one-day drop in almost three months Monday.

PROFESSIONAL NETWORK: LinkedIn surged 21 percent to $150.48 after its earnings exceeded analysts' expectations. The company's annual revenue rose 86 percent in 2012.