Stocks Close Mostly Higher, S&P 500 at Record

U.S. stocks finished mostly higher on Thursday, with the S&P 500 index closing at a record level. The Dow Jones Industrial Average rose 61.71 points, or 0.38%, at 16,421.89. The S&P 500 added 3.22 points, or 0.17%, to 1,877.03. The Nasdaq Composite reversed earlier gains and closed down 5.85 points, or 0.13%, at 4,352.13.

Boeing Co said on Thursday it will end pension plans for 68,000 nonunion employees, including its chief executive, marking the latest step in the company’s shift away from defined-benefit plans.

Cerberus Capital Management LP has reached a preliminary agreement to buy Safeway Inc. SWY -0.03% for more than $9 billion, according to people familiar with the matter, in what would be the private-equity firm’s latest acquisition of a big U.S. grocery chain.

Walt Disney overhauled its struggling interactive division in a sweeping reorganization that will reduce the number of video games it develops and alter its advertising strategy to focus more on the fast-changing mobile market.