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S&P 500 Climbs as GDP Grows

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NEW YORK — The Standard & Poor's 500 Index rose after the economy unexpectedly grew in the fourth quarter, suggesting the recession may be ending. Pfizer Inc., Citigroup Inc. and Banc of America Corp. led the advance.

Anadarko Petroleum Corp. fell after saying it misstated profits, stoking concern that corporate accounting practices don't reflect earnings. Shares of Tyco International Ltd., the most actively traded, plummeted for a third day after investors questioned the company's financial statements.

"The consensus will be the recession is over and the turn in corporate profits is around the corner," said James Awad, who manages $750 million as chairman of Awad Asset Management. Still "there's a pervasive unease slipping into the stock market about accounting," which could limit a rebound in stocks, he said.

The Standard & Poor's 500 Index gained 1.25, or 0.1 percent, to 1101.89. The Dow Jones Industrial Average climbed 17.03, or 0.2 percent, to 9635.27. The Nasdaq Composite Index slipped 6.38, or 0.4 percent, to 1886.61.