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Stocks Rise Into Record Territory on GDP Report

Dow gains 81
By Newser Editors and Wire Services
Posted Apr 26, 2019 3:19 PM CDT
In this March 11, 2019, file photo trader John Panin, right, works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks closed at a fresh all-time high on Wall Street Friday, as investors weighed a report showing solid US economic growth, per the AP. Gains in financial, health care, and other sectors offset losses in energy companies as the price of US crude oil slumped for the third straight day. Exxon fell 2.1% after its quarterly profit and revenue missed expectations, and Intel fell 9% after it gave a cautious outlook for the full year. Those results were offset by a report showing the economy grew at a solid 3.2% in the first three months of the year, compared with 2.2% in the fourth quarter. The S&P 500 index rose 13 points, or 0.5%, to 2,939. The Dow Jones Industrial Average gained 81 points, or 0.3%, to 26,543. The Nasdaq gained 27 points or 0.3% to 8,146.

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