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NEW YORK, May 29 (Reuters) - U.S. stocks edged up on Thursday with the S&P 500 hitting a record high after data showed the U.S. economy contracted in the first quarter due to weather but signs indicated activity has since rebounded.
The Dow Jones industrial average rose 36.95 points or 0.22 percent, to 16,670.13, the S&P 500 gained 5.62 points or 0.29 percent, to 1,915.4 and the Nasdaq Composite added 16.10 points or 0.38 percent, to 4,241.17. (Reporting by Angela Moon; Editing by Nick Zieminski)