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S&P 500 hits another new high

Oct. 19, 2013 @ 12:00 AM

NEW YORK -- The Standard & Poor's 500 index is rising further into record territory as investors turn their attention from politics to profits.

General Electric, Morgan Stanley and Google all rose after reporting higher profits than financial analysts were expecting. Google topped $1,000 a share for the first time.

Traders were relieved that Washington reached a deal Wednesday to avoid a U.S. debt default and reopen the government after a partial shutdown that ran 16 days.

The S&P 500 rose 11 points, or 0.7 percent, to 1,744 Friday, its second record close in as many days.

The Dow Jones industrial average rose 28 points, or 0.2 percent, to 15,399. The Nasdaq composite was up 51 points, or 1.3 percent, at 3,914.

The gains were broad. Volume was heavy at 3.6 billion shares.

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