U.S. stock rally lifts Dow to record close at14,559.65

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U.S. stock rally lifts Dow to record close at14,559.65
NEW YORK (MarketWatch) -- U.S. stocks rallied Tuesday, with the Dow Jones Industrial Average finishing at a record high and the S&P 500 Index less than 2 points of its all-time closing high, following economic data that showed improvement in home prices and manufacturing. "The market is shrugging off Cyprus, shrugging off mixed economic data," said Phil Orlando, chief equity strategist at Federated Investors. "The market is doing fine is the short answer," he added. The Dow Jones Industrial Average added 111.9 points, or 0.8%, to 14,559.65. The S&P 500 rose 12.08 points, or 0.8%, to 1,563.77, leaving if 1.38 points from its closing high hit in October 2007. The Nasdaq Composite climbed 17.18 points, or 0.5%, to 3,252.48.