Earnings, economy push Dow to record


The Dow closed at a record high as the good narrowly outweighed the bad. Stocks opened to a government report that the economy stalled in the first quarter as winter storms hurt business activity. But investors played off the numbers because most expect the slowdown to be temporary as growth rebounds with warmer temperatures. Some solid earnings, however, and corporate deals helped offset the weak report, and by midday stocks had eked out small gains. They got some momentum in the afternoon after, as expected, the Fed said it would reduce its monthly bond purchases by another $10 billion to $45 billion.

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