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Business

  • New-homesales slowto a trickle
    WASHINGTON – U.S. sales of new homes were nearly flat in September, after the government sharply revised downward what was initially an August surge in buying.New-home sales edged up 0.
  • Stocks see best week in 2 years
    NEW YORK – The stock market closed out its best week in nearly two years on a positive note Friday, helped by strong quarterly earnings from Microsoft and other big U.S. companies.
  • Ford quarterly profit falls
    DEARBORN, Mich. – Ford’s new aluminum-sided F-150 will be a lot lighter and more efficient when it goes on sale this year. But for now, it’s a serious drag on profits.
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Dow closes above 14,000

NEW YORK – The Dow stock market index closed above 14,000 for the first time since before the financial crisis rocked the world economy.

Propelled by strong auto sales and optimism about U.S. jobs, the Dow Jones industrial average crossed the line early Friday and continued flirting with the mark all day. The other major stock indexes also rose.

The Dow was up 149 points to 14,010. It’s gained 6.9 percent this year. The Standard & Poor’s 500 rose 15 to 1,513. The Nasdaq composite index added 37 to 3,179.

The government jobs report that pushed stocks forward was mixed. The U.S. said it added 157,000 jobs in January, in line with expectations. But unemployment inched up to 7.9 percent.

Automakers Toyota, Ford, GM and Chrysler all reported double-digit sales gains for January.

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