NEW YORK: Stocks ended higher on Friday after Ford Motor Co raised its earnings forecasts but gains on the Nasdaq were checked after wireless technology provider Qualcomm Inc said an accounting review may reduce pretax income.
Oil stocks rose as crude oil futures surged almost US$2 a barrel to their highest close in more than three weeks amid concerns over how Hurricane Ivan and new storms might affect oil production. Some analysts worried that higher oil prices would hurt economic growth and cut into corporate profits outside the energy sector.
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