NEW YORK (AP) — The Standard & Poor's 500 index is closing at its highest level in five years as the stock market extends a New Year's rally.
The S&P 500 closed at 1,466 Friday, the highest since Dec. 31, 2007, before the financial crisis.
That's a gain of seven points on the day. The index is up 4.6 percent over the past week after lawmakers passed a last-minute budget agreement that avoided a set of drastic tax increases and government spending cuts.
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