– National

The Nasdaq and S & P; 500 closed at five-year highs Wednesday after a positive report on the economy’s service sector sent stocks surging. But a jump in oil prices minimized gains.

The Dow Jones Industrial Average rose 35.70, or 0.3 percent, to 11,239.55. The Standard & Poor’s 500 Index gained 5.63, or 0.4 percent, to 1,311.56, its best showing since May 21, 2001. The Nasdaq Composite Index added 14.39, or 0.6 percent, to 2,359.75, its best close since Feb. 16, 2001.

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– Local


Local movers were led by Ryland Group Inc., which gained 5.2 percent to $73.24, KB Home., which rose 4.1 percent to $67.65, and Guitar Center Inc., which climbed 4.5 percent to $48.92. On the down side, IRIS International Inc. fell 11.7 percent to $13.69, j2 Global Communications Inc. lost 3 percent to $45.22 and American Reprographics Co. slipped 3.5 percent to $34.75.