U.S. stocks ended higher on Wednesday, after a government report showed the economy declined during the first quarter. In world markets, Asian markets ended lower, while major European markets also closed lower Wednesday. In U.S. economic news, the Commerce Department said the economy declined 2.9 percent in the first quarter, falling lower than the 1.8 percent decline predicted by economists. The dollar rose versus the British pound, but fell versus the Yen and the Euro. Light sweet crude oil for July delivery rose to $106.58 a barrel on the New York Mercantile Exchange. Gold futures fell to $1,320.00 an ounce. The Dow Jones industrial average rose 49.38, or 0.3 percent, to 16,867.51. The broader Standard & Poor's 500 index rose 9.55, or 0.5 percent, to 1,959.53. The technology-heavy Nasdaq composite index rose 29.40, or 0.7 percent, to 4,379.76.
