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The market’s gains in April have been modest after a first-quarter surge that pushed both the Dow and the S&P 500 to record highs. The Dow is up just 0.8 percent in April while the S&P 500 has gained 0.6 percent.

During the first three months of the year, the Dow and the S&P 500 averaged monthly gains of more than 3 percent, driven by optimism that the housing and job markets were recovering and that company earnings would continue to climb.

There were some bright spots for investors Wednesday.

Yum Brands, which owns KFC, Pizza Hut and Taco Bell, was among the gainers, advancing 7 percent to $68.70. Yum reported earnings late Tuesday that exceeded the expectations of financial analysts.

General Dynamic, the aerospace and defense company, also surged after posting a profit that was better than expected. The stock jumped 5.3 percent to $70.66.

Boeing climbed 3.6 percent to $91.27 after the airplane maker said its first-quarter net income rose 20 percent despite problems with the 787 “Dreamliner.” The company said it would still meet its financial and delivery targets this year.

In government bond trading, the yield on the 10-year Treasury note was little changed at 1.71 percent.