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Dow and S&P 500 close with record highs

Klaus Kleinfled, center, CEO of Alcoa, rings the

Klaus Kleinfled, center, CEO of Alcoa, rings the closing bell of the New York Stock Exchange on Wall Street on Nov. 4, 2014. Credit: Getty Images / Andrew Burton

The Dow Jones industrial average and Standard & Poor's 500 index both closed at all-time highs Wednesday.

At the close on Wall Street, the Dow was up 100.69, or 0.58 percent, at 17,484.53. The S&P gained 11.47, or 0.57 percent, to close at 2,023.57. Only the Nasdaq composite fell. It closed down 2.91 points, or 0.06 percent, at 4,620.72.

Devon Energy jumped 10 percent and Chesapeake Energy rose 7 percent. Both reported earnings that were better than Wall Street analysts were expecting.

U.S. crude oil rose $1.49 to $78.68 a barrel on the New York Mercantile Exchange. It was the first gain for the price of oil in five days.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.36 percent.

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