NEW YORK (AP) -- Stocks are closing higher on Wall Street, sending the Standard & Poor's 500 index to another five-year high.
The S&P 500 closed at 1,472 Thursday, its highest point since December 2007. It also closed at a five-year high on Friday. Its gain on the day was 11 points, or 0.8 percent.
The Dow Jones industrial average closed with a gain of 80 points at 13,471. The Nasdaq composite gained nearly 16 points to 3,121.
Supervalu soared 14 percent after announcing that it would sell five of its biggest grocery chains to an investor group led by the private equity firm Cerberus Capital Management.
Rising stocks outnumbered falling ones two to one on the New York Stock Exchange. Volume was higher than average at 4 billion shares.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.