US stocks inch further into record territory

Specialist Michael Pistillo, left, and trader Thomas Ferrigno work on the floor of the New York Stock Exchange, Monday, Nov. 24, 2014. U.S. stocks rose in early trading in line with gains from Asian markets and thanks to improvement in German business confidence. (AP Photo/Richard Drew) Specialist Michael Pistillo, left, and trader Thomas Ferrigno work on the floor of the New York Stock Exchange, Monday, Nov. 24, 2014. U.S. stocks rose in early trading in line with gains from Asian markets and thanks to improvement in German business confidence. (AP Photo/Richard Drew)

By Associated Press November 24, 2014 1 min read

NEW YORK (AP) – U.S. stocks are closing higher, keeping major indexes at record levels.

Retailers posted solid gains Monday ahead of the holiday shopping season. Coach rose 2.6 percent after analysts at Stifel said the company was on the right track to strengthen its brand.

Big phone company stocks fell. Verizon lost 1.4 percent and AT&T declined 1.6 percent.

The Standard & Poor’s 500 index gained six points, or 0.3 percent, to 2,069.

The Dow Jones industrial average edged up seven points, less than 0.1 percent, to 17,817. The Nasdaq composite rose 41 points, or 0.9 percent, to 4,754.