NEW YORK: The S&P 500 edged up on Monday to yet another record closing high, pushing further above 1,600 and extending Friday's rally as financial shares led the way after Bank of America's settlement with MBIA.

The Dow Jones industrial average dropped 5.07 points, or 0.03 percent, to finish unofficially at 14,968.89. The Standard & Poor's 500 Index gained 3.09 points, or 0.19 percent, to finish unofficially at a record 1,617.51. The Nasdaq Composite Index gained 14.34 points, or 0.42 percent, to close unofficially at 3,392.97.

<Center><b><i>Copyright Reuters, 2013</b></i><br></center>