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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/us-stocks-rise-on-tax-cut-hopes.jpg"><img class="alignnone size-full" title="The Dow Jones industrial average closed 40.26 up at 11,410.32" src="http://londonglossy.com/wp-content/uploads/2010/12/min-us-stocks-rise-on-tax-cut-hopes.jpg" alt="The Dow Jones industrial average closed 40.26 up at 11,410.32"/></a></p>
<p>An encouraging trade report and signs that a tax cut package would pass the Senate have sent US stocks edging higher.</p>
<p>The American government reported on Friday that the US trade deficit fell to its lowest level in nine months in October.</p>
<p>Growing demand for American goods overseas pushed exports to their highest level in more than two years. The trade deficit narrowed to 38.7 billion US dollars (£24.5 billion), 13.2% below September&#8217;s deficit of 44.6 billion US dollars.</p>
<p>The Dow Jones industrial average rose 40.26, or 0.4%, to close the week at 11,410.32.</p>
<p>General Electric led the 30 stocks that make up the index with a 3.4% jump to 17.72 US dollars (£11.20). GE announced on Friday that it planned to raise its dividend by 17%.</p>
<p>The Standard &#038; Poor&#8217;s 500 index rose 7.40, or 0.6%, to 1,240.40. All 10 company groups that make up the index rose.</p>
<p>It was the third straight day that the S&#038;P index closed at a new high for the year. It has gained 11.2% this year.</p>
<p>The Nasdaq composite index rose 20.87, or 0.8%, to 2,637.54.</p>
<p>Prospects were improving that the Senate would approve legislation aimed at avoiding sweeping tax increases January 1. Negotiators added a few sweeteners to promote ethanol and other forms of alternative energy. A test vote was set for Monday.</p>
<p>House Democrats have balked at the proposal to extend tax cuts, voting in a closed-door meeting Thursday not to allow the package to reach the floor for a vote without changes to scale back tax cuts for the rich.</p>
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