S&P 500 Closed at Fresh Record

U.S. stocks closed modestly higher on Thursday, sending the S&P 500 to a fresh record, as investors eyed slightly lower bond yields and mostly shook off the morning’s mixed economic data. The Dow Jones Industrial Average was up 0.34 point, to 18,285.74. The S&P 500 gained 4.97 points, or 0.23%, to 2,130.82. The Nasdaq Composite added 19.05 points, or 0.38%, to 5,090.79.

Hewlett-Packard Co. reported a 7% drop in revenue for the April quarter, hurt by declines in all its major segments.H-P expects earnings excluding items of 83 cents to 87 cents a share for the current quarter.

Gap Inc. is reporting an 8 percent decline in its first-quarter profit, as results were hurt by currency fluctuations and persistent sluggish sales at Gap and Banana Republic. It reported earnings of $239 million, or 56 cents per share, for the three-month period ended May 2.

CVS Health Corp. has agreed to buy pharmacy-benefits provider Omnicare Inc. in a deal valued at $12.7 billion, a tie-up that will boost the pharmacy chain’s services for the growing senior patient population.