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Latest Business News: S&P 500 Index Has First Close Above 1,700 Points

Wochit 0:58 mins

Stock indexes are back at record highs on Wall Street after better economic news sent the market sharply higher. The benchmark Standard & Poor's 500 index closed above 1,700 points for the first time. Better manufacturing news in China and the U.S. as well as encouraging reports on jobs and company earnings sent the market up The iPhone maker has reportedly picked up Passif Semiconductor, a small Silicon Valley-based company that makes low-power communications chips. The billionaire Carl C. Icahn said that he had sued Dell, seeking to prevent the company and its board from altering terms of a scheduled vote on a proposed $24.4 billion takeover bid by the computer maker?s founder.

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