The S&P 500 inched higher on Friday to close at the highest since before the collapse of Lehman Brothers in 2008, continuing a pattern of steady gains on signs of US economic recovery.

Based on the latest available data, the Dow Jones industrial average was down 2.27 points, or 0.02 per cent, at 12,982.42. The Standard & Poor's 500 Index was up 2.28 points, or 0.17 per cent, at 1,365.74. The Nasdaq Composite Index was up 6.77 points, or 0.23 per cent, at 2,963.75.