S&P 500 ekes out a small gain to set a new record

Source: AP-Excite

By STEVE ROTHWELL

NEW YORK (AP) - The Standard & Poor's 500 index eked out the smallest of gains to set a record high Monday as investors assessed third-quarter earnings news.

Earnings will hold investors' attention this week as major U.S. companies including McDonald's, Boeing and Procter & Gamble report their results. Rising profits have been one of the key supports for this year's rally in stocks.

Toymaker Hasbro and the V.F. Corporation, which owns clothing brands including Wrangler and The North Face, were among the biggest gainers in the S&P 500 after reporting earnings that beat analysts' expectations. McDonalds dipped after reporting disappointing revenue.

The S&P 500 closed up a fraction of a point at 1,744.66, an all-time high, its third consecutive record close. Stocks climbed last week after Washington reached a deal to end a 16-day government shutdown and avert a default on the nation's debt

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In this Thursday, Oct. 10, 2013 photo, trader Randy Biller works on the floor of the New York Stock Exchange. World financial markets were flat-footed Monday, Oct. 21, 2013, ahead of a run of economic data and corporate earnings statements, particularly out of the U.S. (AP Photo/Richard Drew)