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Nothing derailing rally...Keeping up with the mortgage...New Mexico Spaceport signs a tenant

Wednesday - 5/8/2013, 7:40am  ET

NEW YORK (AP) -- Higher interest rates, falling profits and recession fears are the kind of things that derail stock market rallies. But investors see none of these on the horizon and, with interest rates near record lows, few other places to put their money. That's helped the Dow climb through another big milestone. The Dow rose 87 points to 15,056.20 points yesterday and is up 15 percent for the year. The S&P 500 also hit a new record close, adding eight points to 1,625.96. The Nasdaq was up four to 3,396.63.

BANGKOK (AP) -- An improvement in China's trade and yesterday's record-busting session on Wall Street are spurring overseas markets higher. Optimism that the U.S. economy will keep gaining momentum drove the Dow to close above 15,000 for the first time, while China reports growth in imports and exports accelerated in April. Japan's Nikkei has risen 0.9 percent, while benchmarks in other major markets have also been rising in Wednesday trading.

LOS ANGELES (AP) -- A resurgent housing market, rising home values and steady job gains are helping more U.S. homeowners stay on top of their mortgage payments. TransUnion say the percentage of mortgage holders at least two months behind on their payments fell on an annual basis by 21 percent in the first quarter. Credit reporting agency puts the mortgage delinquency rate at 4.56 percent.

NEW YORK (AP) -- A national push for paid sick days is poised to score a significant victory in New York City. The City Council is expected to vote today to require businesses to provide sick leave to an estimated 1 million workers who don't have it now. A mayoral veto is expected, but so is an override. New York would be the most populous place in the country to approve such a law.

ALBUQUERQUE, N.M. (AP) -- New Mexico's Spaceport America has signed up another space industry heavyweight. Gov. Susana Martinez says Elon Musk's Space Exploration Technologies has agreed to a three-year lease. SpaceX plans to test its "Grasshopper" reusable rocket there. Virgin Galactic is the anchor tenant at Spaceport, which has struggled to attract other businesses.


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