News Summary: Another notch on the S&P odometer

AP News
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Posted: Aug 01, 2013 5:19 PM

RECORD SETTING: The Standard & Poor's 500 index and the Dow Jones industrial average both set record highs Thursday, and the S&P 500 crossed the 1,700 mark for the first time.

STEADY STREAM: There was no single piece of news driving the market's advance. Instead, stocks were propelled by a flurry of encouraging, if incremental, news about the global economy, including lower jobless claims in the U.S. and a positive reads on manufacturing in China and the U.S.

A GOOD REVIEW: Yelp jumped 23 percent. The company reported late Wednesday that it sold more ads and attracted more users, though it continued to lose money.