Stocks move higher, head for solid weekly gains

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Associated Press

Posted on March 21, 2014 at 10:01 AM

Updated Friday, Mar 21 at 10:02 AM

NEW YORK (AP) — Stocks are higher in midday trading as the market gets set to close out a turbulent week with solid gains.

The Standard & Poor's 500 index rose eight points, or 0.5 percent, to 1,880 as of midday Friday. If the gains hold the index will close at a record high, its first in two weeks.

The Dow Jones industrial average rose 93 points, or 0.6 percent, to 16,424. The Nasdaq composite slipped two points, or 0.1 percent, to 4,316.

All three major U.S. indexes are up about 2 percent for the week.

Nike fell 3 percent after the company said a stronger U.S. dollar will dampen its sales this quarter.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.77 percent.

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