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Stocks rose consistently from early October through the end of the first quarter on March 31. Trading has since turned volatile. Swings of more than 100 points in the Dow have become common, a contrast to the steady, modest gains of the first three months of the year. The Dow closed up 74.39 points, or 0.6 percent, at 13,001.56. IBM rose solidly after the company said it is raising its quarterly dividend and plans to repurchase $7 billion more of its stock. The S&P 500 rose 5.03 points, or 0.4 percent, to 1,371.97. The Nasdaq composite average fell 8.85 points to 2,961.60. Apple is the Nasdaq's biggest component and the biggest company by market value. As stocks rose, traders sold ultra-safe Treasurys. The yield on the 10-year Treasury note rose to 1.97 percent from 1.94 percent late Monday. Among the other U.S. companies swinging on earnings news: Oilfield services contractor Baker Hughes rose 5 percent after its profit exceeded expectations because of strong drilling activity in Africa. Coach fell 4 percent after the maker of high-end leather goods said results in U.S. department stores were weak, despite stronger sales in China. Netflix plunged 14 percent after saying it is adding new subscribers slowly in the second quarter. Investors are nervous about stronger competition from video-streaming rivals such as Amazon.com and Comcast. A wave of weak U.S. economic data failed to douse the rally for stocks. Sales of new homes fell by 7 percent last month, the biggest decline in a year, the government said after markets opened. Home prices in most major U.S. cities fell in February for a sixth straight month. Americans' confidence in the economy held steady despite rising gas prices and falling home values, according to the Conference Board, a private research group.
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