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S&P at Record High on Better Consumer Confidence, Housing Data

The S&P 500 closed at a new record amid a raft of positive economic data including rising consumer confidence and service sector expansion. Risk indicators were clearly positive: financials, small caps and techs gained while gold slumped. The VIX, a broad measure of volatility is also at low levels, though traders say there are several indicators it could push higher. Volumes are anemic while there is little breadth in the rally. Increasingly, fewer stocks are hitting their 52-week highs despite an overall record for the index, which make the market more vulnerable to a pullback. Jane Searle speaks to Greywolf Execution's Mark Newton at the NYSE.