Energy sector helps S&P 500 to record high

NEW YORK – A slight gain was enough to push the stock market to a record high Friday.

Stocks climbed as a rebound in oil prices pushed energy stocks higher. A report showing faster-than-forecast growth in Europe at the end of last year also boosted investor sentiment.

Investors were also picking over the latest earnings news. CBS gained after strong advertising revenue boosted its earnings. V.F. Corp., a clothing company whose brands include Vans, Wrangler and Timberland, jumped after giving an upbeat outlook for the year.

Stocks have surged in February, rebounding from a January slump, as oil prices have boosted energy stocks. Corporate earnings and the announcement of more stimulus from the European Central Bank to boost growth in the region have also helped turn around investor sentiment this month.

“Stability seems to be coming back,” said JJ Kinahan, chief strategist at TD Ameritrade. “Overall, I think the market is going to go higher … but it may be a case of two steps forward, one step back.”

The Standard & Poor’s 500 rose 8.51 points, or 0.4 percent, to 2,096.99. That surpassed the previous record close of 2,090.57 set Dec. 29.

The Dow Jones industrial average climbed 46.97 points, or 0.3 percent, to 18,019.35. The index is still 35 points short of its all-time high. The Nasdaq composite gained 36.22 points, or 0.8 percent, to 4,893.84.