S&P 500 adds 0.4% driven by Apple

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Source: Dukascopy Bank
S&P 500 index strengthened to an almost four record high on news Apple Inc prepares to pay dividends and buy back its stock. US benchmark advanced 0.4% or 5.58 points and finished at 1,409.75. Apple surged 2.7% and UPS jumped 3.4% on announcement the company increased its bid for TNT Express NV by 5.6%. Morgan Stanley added 2.7% after lender said it is considering the first corporate bond sale in five months. US steel soared 6.4% after some producers encouraged predictions for improving demand. Sprint Nextel tumbled 4.5% after company was downgraded by Sanford C. Bernstein & Co.

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