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Stocks close losing week with a day of gains

The Dow is up 43 points, the S&P rose 7 points, and the Nasdaq gained 27 points, with Google jumping nearly 13 percent after it reported huge gains for the second quarter

July 15, 2011

In this July 11, 2011 file photo, a trader works on the floor at the New York Stock Exchange in New York. World stock markets sputtered Friday, July 15, as investors weighed positive economic indicators against a new warning on US debt.

Seth Wenig / AP

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NEW YORK (AP) — A late rally Friday is helping the stock market avoid its worst weekly losses in nearly a year.

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Concerns about Europe and weak U.S. factory output weighed on stocks on Friday. Those factors largely overshadowed a jump of nearly 13 percent for Internet-search giant Google after the company said its revenue hit an all-time high last quarter.

The S&P 500 is closing with a gain of 7 points, or 0.6 percent, to 1,316. The Dow is up 43, or 0.3 percent, to 12,480. The Nasdaq is finishing up 27, or 1 percent, to 2,790. The S&P finished the week with a loss of 2.1 percent.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume was slightly higher than average at 4 billion shares.