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Stocks Close Higher, Dow and S&P 500 Hit Record Highs

Stocks edged higher on Friday, with the Dow and S&P 500 hitting records while extending a five-session climb that had both benchmarks tallying weekly gains. But oil and gas prices continued to rise as markets mulled the news that President Obama will send up to 300 U.S. military advisers to help Iraq battle Sunni insurgency.

The Dow Jones Industrial Average closed unofficially 25 points higher, at 16,947.08, the S&P 500 rose 3 points to 1962.87 and the Nasdaq added 8 points.

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Iraq turmoil triggers pain at the pump 2:47

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