New York – The S&P 500 closed at a record high on Thursday after disappointing economic data bolstered expectations that an interest rate hike will come only later in the year.
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The Dow Jones industrial average edged up a fraction of point to 18,285.
The Standard & Poor’s 500 index rose five points, or 0.2 percent, to 2,130. The Nasdaq composite climbed 19 points, or 0.4 percent, to 5,090.
Oil rose $1.74, or 3 percent, to $60.72 a barrel following reports that U.S. storage levels are falling. That sent energy stocks higher. Rig operator Transocean gained 4 percent.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.19 percent.