Stock indexes shake off early slide, close higher

Stock indexes shake off early slide, close higher

May 15th, 2013 by Associated Press in Local - Breaking News

Traders gather at the post of specialist Ronnie Howard, center, on the floor of the New York Stock Exchange.

Photo by Associated Press /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.