S&P 500 tops 1,200

NEW YORK, Dec. 14 (UPI) -- Standard & Poor's of New York said Tuesday the price of its 500 index traded at a level above the 1,200 mark for the first time since Aug. 8, 2001.

S&P said the index made a slow, but steady rise. The first time the index crossed the 1,200 price plateau was back on Dec. 21, 1998 -- just under six years ago.

Looking ahead, Standard & Poor's said it expects earnings, dividends and prices to continue to increase at a moderate rate in 2005. Standard & Poor's Investment Policy Committee expects the total return for the S&P 500 to be 10.1 percent in 2005.

Standard & Poor's is a division of the McGraw-Hill Cos. and a provider of independent credit ratings.