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Another creep higher sends S&P 500 to record high, again

Another day, another lazy drift higher for stocks and another record high.

The Standard & Poor's 500 index rose 9.86 points, or 0.5 percent, to 2,175.03 on Friday. It surpassed its prior record set Wednesday by 0.09 percent, the latest nudge higher for a market that has taken a decidedly slow-and-steady path to all-time highs in recent weeks. Telecom and utility stocks led the way, as they have for much of this year.

The Dow Jones industrial average rose 53.62 points, or 0.3 percent, to 18,570.85. The Nasdaq composite rose 26.26, or 0.5 percent, to 5,100.16. The gains sent all three indexes to their fourth consecutive winning week, their longest streak since...