Stocks were slightly higher at the opening bell Wednesday, shaking off news industrial production had slumped 0.6% in March, its biggest decline since August 2012 and the latest figure to signal a significant economic sluggishness in the first quarter. The decline was double what economists had expected. Intel was giving the Dow a boost after reporting 5% earnings growth in its first quarter. Management said growth in its data center segment shows promise. Bank of America rebounded to a quarterly profit as it slowly recovers from years of legal costs. Shares were under pressure, though, as revenue dropped nearly 6% and earnings missed estimates.
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