Stocks managed to post modest gains Wednesday on Wall Street, enough to set more record closing highs, the AP reports. Technology and health care stocks rose more than the rest of the market, while banks and phone companies fell. Johnson & Johnson rose 2.1% after the company asked regulators to approve a prostate cancer drug. Luxury goods maker Coach dropped 2.8% after saying it will change its name to Tapestry.
The Standard & Poor's 500 index rose 4 points, or 0.2%, to 2,555. The Dow Jones industrial average rose 42 points, or 0.2%, 22,872. The Nasdaq rose 16 points, or 0.2%, to 6,603. All three closed at record highs. Small-company stocks lagged the rest of the market. The Russell 2000 index fell 1 point to 1,506.