Standard & Poor’s 500 edges higher to close at record high; Avago soars on earnings

The Standard & Poor’s 500 is ending the week at a record high after a day of quiet trading.

Chip maker Avago Technologies jumped nearly 8 per cent after reporting earnings that beat analysts’ estimates.

The latest reports on the U.S. economy were mixed. Consumer sentiment improved in August, while spending fell and income growth slowed in July.

The Standard & Poor’s 500 rose six points, or 0.3 per cent, to finish at 2,003.37, an all-time high, Friday. The Dow Jones industrial average rose 18 points, or 0.1 per cent, to 17,098. The Nasdaq composite rose 22 points, or 0.5 per cent, to 4,580.

Bond prices barely budged. The yield on the 10-year Treasury note held at 2.34 per cent.

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