News Summary: Tech leads S&P 500 to new high

News Summary: S&P 500 edges up to another record; technology stocks lead the way

Associated Press

TECH'S TURN: Technology companies led the Standard & Poor's 500 index to an all-time closing high Monday. Information technology stocks rose the most of the 10 industry groups in the S&P 500 index, 1.6 percent.

SETTLED: Moody's and Standard & Poor's parent company McGraw-Hill surged following news that the ratings agencies settled lawsuits dating back to the financial crisis which accused them of concealing risky investments.

FINAL SCORE: The S&P 500 index rose 11.37 points to close at 1,593.61. The 0.7 percent increase nudged the index above its previous closing high of 1,593.36, reached on April 11.

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