Stocks keep climbing...April auto sales due... headlines go here

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Associated Press

Posted on May 1, 2013 at 6:02 AM

NEW YORK (AP) — IBM is planning to buy back stock and raise its dividend, and that's helped keep stocks climbing upward. The S&P edged up 3.96 points to close at 1,597.57, another all-time high. The Dow ended Tuesday with a 21-point gain to 14,839.80. The Nasdaq rose 21.77 points to 3,328.79.

BANGKOK (AP) — The price of oil fell below $93 on Wednesday after data showed a slowdown in China's manufacturing growth.Benchmark oil for June delivery was down 72 cents to $92.74 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.04 to finish at $93.46 per barrel on Tuesday in anticipation of another increase in U.S. crude supplies.

WASHINGTON (AP) — Automakers begin unveiling their April sales figures this morning. Also on the schedule, Institute for Supply Management releases its manufacturing index for April, and the Commerce Department releases figures on construction spending in March, while the Fed wraps up a two-day policy meeting.

WASHINGTON (AP) — The Federal Reserve Board concludes a two-day meeting today and is expected to hold tightly to its policy of low interest rates. Although the economy has shown some signs of improvement recently, the Fed policymakers believe they must continue to pursue initiatives to stimulate growth because the national unemployment rate remains well over 7 percent.

ATHENS, Greece (AP) — Ferry and train services in Greece have ground to a halt as unions hold a strike for May Day. And hundreds of people are gathering for planned rallies in central Athens. The country's main labor unions are protesting soaring unemployment, which is the highest in the 27-country European Union, and the austerity measures the government is enacting in return for crucial bailout loans.

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