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The Honolulu Advertiser
Posted on: Friday, December 21, 2007

Market rises, but news not all that good

Associated Press

NEW YORK Stocks finished higher yesterday as investors set aside some concerns about downbeat economic reports and focused on strong profits from Oracle Corp.

Corporate results and economic news offered investors a mixed picture and kept stocks fluctuating throughout much of the session.

Economic news appeared to weigh on investors at times, however. The Philadelphia Federal Reserve said at midday that its index of regional business conditions showed a reading of a negative 5.7, down sharply from a positive 8.2 in November.

The report came after word that a gauge of future business activity fell last month to its lowest level in more than two years.

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