Dow, S&P Close at Record Highs

U. S. stocks climbed 1% on Wednesday, with both the Dow and the S&P 500 ending at historic highs as  cyclical shares led the way higher for a second straight day.The Dow Jones Industrial Average rose  128.78 points, or 0.88 percent, to 14,802.24. The S&P 500 index climbed 19.12 points, or 1.22 percent,  to 1,587.73. The Nasdaq Composite added 59.39 points, or 1.83 percent, to 3,297.25.

Worldwide personal computer shipments fell 14% in the first quarter of 2013, the industry’s worst  quarterly decline ever, according to an IDC report released Wednesday.

The U.S. federal budget deficit grew more slowly in March, keeping the annual spending shortfall on pace  to finish below $1 trillion for the first time in five years. The deficit grew by $106.5 billion in  March, well below the $203.5 billion added in February, the Treasury Department said Wednesday.

Deutsche Telekom AG is reportedly considering sweetening its offer to merge its T-Mobile USA mobile  phone carrier with MetroPCS Communications in order to improve the chances the deal will be approved by  MetroPCS shareholders.

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