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US stocks rise as deals, earnings offset crises

Published on Jul 19, 2014 6:17 AM

NEW YORK (AFP) - A wave of corporate deals and generally positive quarterly earnings competed for attention this week with gloomy news developments in Ukraine and Gaza, ultimately leading US stocks higher.

For the week, the Dow Jones Industrial Average advanced 156.37 points (0.92 per cent) to 17,100.18.

The broad-based S&P 500 rose 10.65 (0.54 per cent) to 1,978.22, while the tech-rich Nasdaq Composite Index gained 16.66 (0.38 per cent) to 4,432.15.

The week’s gains came despite twin crises that emerged Thursday when a Malaysian airliner carrying 298 people crashed in Ukraine in a disaster that US officials said was likely caused by a missile shot from an area of Ukraine controlled by pro-Russia separatists.

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