US STOCKS-Wall St edges higher as S&P 500 tops record close

Thu Mar 28, 2013 11:42am EDT
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* S&P briefly climbs above record closing high

* BlackBerry reports quarterly profit; shares up

* Cyprus reopens banks under tight restrictions

* Indexes: Dow up 0.3 pct, S&P up 0.23 pct, Nasdaq 0.11 pct

By Chuck Mikolajczak

NEW YORK, March 28 (Reuters) - U.S. stocks edged higher on Thursday, with the S&P 500 rising just above its record closing high, which has acted as a significant resistance point in recent weeks.

The S&P had been caught in a range, having traded within 10 points of the record closing high of 1,565.15 over the prior 13 sessions before successfully piercing that level on Thursday, while buyers moved in on signs of weakness to quickly eliminate any declines.

A close above the record level could signify more gains, although investors may tread lightly with government payroll data and corporate earnings season on the horizon.

"A close at a high is good for investor confidence. It may attract a little bit of near term activity," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.   Continued...