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US stocks inched higher on Wednesday, pushing the S&P 500 to another intraday record, after data suggested the economy was slowly building momentum after a winter-related pullback earlier in the year. Eight of 10 S&P 500 sectors were in positive territory, though gains were limited following a recent push to new highs.
US private employers added 191,000 workers in March, slightly below the 195,000 forecast, while gains in the prior month were revised to 178,000 from a previously reported 139,000, signalling that a winter-related impact on job growth earlier this year was easing. Shares of MannKind Corp soared 76.4 percent to $7.09. US health advisers recommended approval of the company's inhaled diabetes drug on Tuesday. The Dow Jones industrial average rose 14.59 points, or 0.09 percent, to 16,547.2, the S&P 500 gained 3.99 points, or 0.21 percent, to 1,889.51, after hitting an intraday record high of 1,890.80. The Nasdaq Composite added 4.942 points, or 0.12 percent, to 4,272.982.

Copyright Reuters, 2014

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