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Dow, S&P at record highs

Published: Wednesday, May 15, 2013 3:19 p.m. CDT

NEW YORK – The stock market is closing higher after shaking off a morning slump.

The Dow Jones industrial average rose 60 points to close at 15,275 Wednesday, a gain of 0.4 percent.

The Standard & Poor's 500 index rose eight points to 1,658, or 0.5 percent. Both the Dow and S&P are at record highs.

The Nasdaq composite rose nine points to 3,471, or 0.3 percent.

Macy's rose after beating Wall Street's profit expectations, and Google rose after announcing a several upgrades to its Android operating system for smartphones, including a music streaming service.

Google closed above $900 a share for the first time, rising $28.79 to $915.89. Macy's rose $1.18 to $48.57.

Rising stocks outnumbered falling ones on the New York Stock Exchange. Volume was about average at 3.6 billion shares.

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