published Wednesday, May 15th, 2013

Stock indexes shake off early slide, close higher

Traders gather at the post of specialist Ronnie Howard, center, on the floor of the New York Stock Exchange.
Traders gather at the post of specialist Ronnie Howard, center, on the floor of the New York Stock Exchange.
Photo by Associated Press /Chattanooga Times Free Press.

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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