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Standard & Poor's 500 index closes at a record high; Hewlett-Packard gains on better results

Another round of buying on the stock market is sending the Standard & Poor's 500 index to its latest record high.

Traders were encouraged by earnings gains and a decline last week in the number of people applying for unemployment benefits.

The S&P 500 rose five points, or 0.3 percent, to close at 1,992 Thursday. That's four points above the record close it reached July 24.

The Dow Jones industrial average gained 60 points, or 0.4 percent, to 17,039. The Nasdaq composite edged up five points, or 0.1 percent, to 4,532.

Hewlett-Packard rose 5 percent after the company reported its first sales increase in nearly three years. Sears fell 7 percent after reporting a wider loss.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.40 percent.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.83% dw 3.86%  
15 Y Fixed Graph 2.95% up 2.94%  
30 Y Fixed Jumbo Graph 4.27% up 4.24%  
5/1 ARM Graph 3.13% up 3.05%  
5/1 Jumbo ARM Graph 3.77% up 3.70%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.40% up 4.38%  
$50K HELOC Graph 4.07% up 4.06%  
$30K Loan Graph 4.54% dw 4.56%  
$50K Loan Graph 4.20% -- 4.20%  
$75K Loan Graph 4.20% -- 4.20%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.07% dw 3.08%  
36 M Used Graph 3.29% dw 3.30%  
48 M New Graph 3.05% dw 3.06%  
48 M Used Graph 2.96% up 2.87%  
60 M New Graph 3.13% dw 3.14%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.37% up 0.36%  
1 yr Graph 0.61% -- 0.61%  
5 yr Graph 1.44% dw 1.48%