S&P 500 index back at a record high as energy stocks recover; Dow average regains 18,000

Markets Associated Press

U.S. stocks are back at record levels as energy stocks recover along with the price of oil.

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Encouraging earnings news from CBS and surprisingly strong economic growth in Europe also sent indexes higher in midday trading Friday.

The Standard and Poor's 500 index increased five points, or 0.2 percent, to 2,093, as of 11:45 a.m. That's three points above its record closing high reached in late December.

The Dow Jones industrial average climbed 42 points, or 0.2 percent, to 18,014. The Nasdaq composite gained 21 points, or 0.4 percent, to 4,878.

CBS rose 3 percent after reporting earnings that exceeded analyst's expectations.

The price of oil rose $1.54 to $52.71 a barrel in New York.

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Bond prices were flat. The yield on the 10-year Treasury note held at 2 percent.