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U.S. stocks rise to pare weekly drop as Intel rally offsets Iraq

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A rally by Intel and corporate deals lifted stocks a bit Friday — but not enough to reverse a week freighted with concern that violence in Iraq will disrupt oil supplies. The benchmark Standard & Poor’s 500 Index saw its first weekly decline in a month. Iraq is forecast to provide about 60 percent of OPEC’s output growth for the rest of this decade, the International Energy Agency said. ‘Any time you have conflict around the world, and especially there, where we’ve withdrawn troops from just in the past year, it can cause some nervousness,’ said Joe Bell, senior equity analyst at Cincinnati-based Schaeffer’s Investment Research Inc.

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