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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/manufacturing-report-boosts-stocks.jpg"><img class="alignnone size-full" title="The Dow Jones industrials rose 29.97 points to close at 12,318.14" src="http://londonglossy.com/wp-content/uploads/2011/02/min-manufacturing-report-boosts-stocks.jpg" alt="The Dow Jones industrials rose 29.97 points to close at 12,318.14"/></a></p>
<p>US stocks have finished higher after a strong manufacturing report overshadowed a bigger-than-expected rise in the number of people applying for unemployment benefits.</p>
<p>The Federal Reserve Bank of Philadelphia said its index of manufacturing in the mid-Atlantic region nearly doubled between January and February.</p>
<p>The surge in manufacturing was enough to offset a Labour Department report that applications for unemployment benefits rose 25,000 from the previous week.</p>
<p>The Dow Jones industrial average rose 29.97 points, or 0.3%, to 12,318.14. The Dow has been rising steadily this month, with only three down days in February. For the month, it is already up 3.6%. The Standard &#038; Poor&#8217;s 500 index rose 4.11, or 0.3%, to 1,340.43. The Nasdaq composite rose 6, or 0.2%, to 2,831.58.</p>
<p>The government also reported that consumer prices in January were slightly higher than forecast, largely a result of rising food and gas prices.</p>
<p>The Consumer Price Index rose 0.4%. The core index, which excludes food and energy costs, looked relatively tame, rising 0.2%. Forecasters had expected to see the price index rise 0.3% last month, and the core index inch up 0.1%.</p>
<p>Barrick Gold, Duke Energy and JM Smucker all rose after reporting stronger earnings results. Barrick&#8217;s quarterly profit jumped four-fold, helped by higher production and lower costs. The world&#8217;s largest gold miner&#8217;s stock gained 1.9%.</p>
<p>Duke Energy&#8217;s net income grew 23%, boosted by gains from selling assets and rising customer demand. Duke gained 2.3%. Profit fell at JM Smucker, maker of Jif peanut butter and Folgers coffee, but still beat analysts&#8217; expectations. The company also raised its earnings outlook for the year. JM Smucker rose 4.2%.</p>
<p>Coca-Cola gained 1.8% after it announced that it increased its dividend.</p>
<p>Two stocks rose for every one that fell on the New York Stock Exchange. Volume came to 875 million shares.</p>
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