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IBM pulls stock market out of a slump

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News that IBM will buy back up to $5 billion more of its stock and raise its dividend by a dime helped pull major indexes out of a morning slump. IBM and other tech stocks led the S&P 500 to a record high for a second straight day. The broad­market index ended April with a 1.8% gain, the sixth month in a row it has climbed. Worries about slower growth have rattled the market this month, but it has consistently bounced back. Brad Sorensen, the market research director at Charles Schwab, says that’s because investors have few alternatives. ‘Where else are you going to put money at this point?’ The Dow, too, ended the month up 1.8%.

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