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First up day for S&P 500 in 2014; JPMorgan to pay $1.7 billion; Netflix downgraded; Apple post strong App Store sales

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Stocks climbed higher today for the first time in 2014. The broader S&P 500 (^GSPC) gained 0.6% to finish at 1,837.85, while the Dow Industrials (^DJI) jumped over 100 pts, to finish at 16,531. The tech-heavy Nasdaq (^IXIC) gained nearly 1% to finish at 4,153.18.

JPMorgan Chase & Co. (JPM) will pay the government $1.7 billion after agreeing to settle on charges related to the Bernie Madoff scandal. JPMorgan shares ended the day down 1.2%.

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Netflix (NFLX) saw shares slide 5% after it was downgraded by Morgan Stanley to equal weight from overweight and set its 12-month forecast to $310. Morgan Stanley blamed increased competition from Amazon Prime Instant Video and Hulu as the reasons for the downgrade.

Apple (AAPL) stock ended the slightly lower after it announced that it sold more than $10 billion worth of apps in 2013 from its App Store, $1 billion worth in December alone. The computer giant said developers earned $15 billion in sales since the App Store's inception.

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