Stock indexes shake off early slide, close higher

Stock market shrugs off an early slide and closes higher; Macy's, Google among winners

Associated Press
Stocks climb as traders shrug off economic reports
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Traders gather at the post of specialist Ronnie Howard, center, on the floor of the New York Stock Exchange Monday, April 29, 2013. Enthusiasm on Wall Street sparked by another positive report on the U.S. economy helped push most Asian stock markets higher Wednesday May 15, 2013. But lower-than-expected German economic growth disappointed investors elsewhere. (AP Photo/Richard Drew)

NEW YORK (AP) -- 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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