Stocks Rebound After 2-Day Slide

NEW YORK (February 22, 2013)--Stocks closed higher Friday thanks to stronger earnings reports from such big companies as Hewlett-Packard, but the S&P 500 still posted its first weekly loss of the year.

The Dow rose 120 points to close at 14,001 Friday.

The Standard & Poor's 500 index rose 13 points to end the day at 1,515, but still had a loss of 0.3 percent for the week.

The Nasdaq rose 30 to close at 3,161.

Hewlett-Packard had the biggest gain in the Dow, 12 percent, after posting earnings that beat forecasts, a relief after months of bad news for the computer maker.

Cabot Oil & Gas jumped 11 percent on its own strong earnings report.

Three stocks rose for every one that fell on the New York Stock Exchange where volume was 3.3 billion shares, lighter than the recent average.

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