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NEW YORK (CNNMoney)
The S&P 500 hit another record, despite the ongoing crisis in Ukraine. The Dow Jones industrial average and the Nasdaq also were higher.
Investors were rattled Monday after Russian troops moved into Ukraine's Crimea Peninsula. But stocks rebounded strongly Tuesday and finished Wednesday mixed as investors bet the conflict would not escalate into a full-blown war.
Still, investors are keeping a close eye on Ukraine. Political leaders in Crimea have called for a referendum this month on whether to remain part of Ukraine or join the Russian Federation. Meanwhile, U.S. and European officials unveiled new sanctions aimed at pressuring the Russians and Ukrainians deemed responsible for the crisis.
Despite the geopolitical drama, investors are optimistic about the outlook for stocks this year. The latest reading from the CNNMoney Fear & Greed index shows extreme greed is definitely driving the markets.
Stocks are approaching the five year anniversary of the starting point of the current bull market. And while some investors worry that stocks are overdue for a pullback, bulls say there's more room to run.
Related: Fear & Greed Index shows extreme greed
In economic news, the government said first-time claims for unemployment benefits fell last week. All eyes will be on the jobs report for February tomorrow. Economists surveyed by CNNMoney expect that 150,000 jobs were added last month and that the unemployment rate remained steady at 6.6%.
On the corporate front, Staples (SPLS, Fortune 500) shares plunged after the office supplier reported a slump in last year's sales and announced that 225 stores will be closed by the middle of 2015.
Costco (COST, Fortune 500) fell after the warehouse retailer reported sales and profits that missed forecasts.
Shares of Kroger (KR, Fortune 500) rose after the grocery store chain issued an upbeat outlook.
Pandora (P) shares sank after the online music provider said listener hours fell to 1.51 billion in February from 1.58 billion in January. The company also said it would stop issuing monthly reports on user growth. The pullback comes after Pandora shares hit an all-time high earlier this week. Even with Thursday's decline, the stock is still up nearly 40% this year.
Related: CNNMoney's Tech 30
European markets were mixed after the European Central Bank voted to leave interest rates unchanged at its latest policy meeting. Asian markets all closed with gains. 
First Published: March 6, 2014: 9:52 AM ET
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