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Post by bot on Feb 21, 2014 6:30:37 GMT -5
NEW YORK (MarketWatch) -- U.S. stocks closed higher on Thursday, shaking off early losses that came amid downbeat reports from the Philly Fed, China and Europe. Traders found encouragement in a U.S. manufacturing gauge, Markit's flash purchasing managers index, jumping to its highest level in almost four years, as well as in more M&A activity, this time involving Facebook . In addition, strategists said the market's five-year bull run isn't ready to end yet. The S&P 500 rose 11.03 points, or 0.6%, to close at 1,839.78, while the Dow Jones Industrial Average gained 92.67 points, or 0.6%, to 16,133.23. The Nasdaq Composite tacked on 29.59 points, or 0.7%, to finish at 4,267.55.
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