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Dow remains above 15,000

May. 09, 2013 @ 12:00 AM

NEW YORK -- The Dow Jones industrial average rose, closing above 15,000 for a second day after breaching the landmark level for the first time Tuesday.

On Wednesday, a day without any major economic releases, investors focused on company earnings as reporting for the first quarter draws to a close. Although earnings growth has slowed from last quarter, profits are at record levels and projected to rise throughout the year.

Internet company AOL plunged as its subscription revenue fell, and hamburger chain Wendy's slumped after it reported revenue that fell short of Wall Street's expectations. On the positive side, high-end grocer Whole Foods and the video game publisher Electronic Arts rose sharply after predicting full-year profits that were higher than analysts were expecting.

The Dow closed up 48.92 points, or 0.3 percent, at 15,105.12. The index is 15.3 percent higher for the year. The S&P 500 index was 6.73 points higher, or 0.4 percent, at 1,632.69, extending its advance for 2013 to 14.5 percent.

In other trading, the Nasdaq composite gained 16.64 points, or 0.5 percent, to 3,413.27. The Russell 2000, an index of smaller stocks, rose 2.59 points, or 0.3 percent, to 970.41.

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