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US stocks edge higher, shaking off a slump

Friday - 3/14/2014, 10:14am  ET

In this Wednesday, March 12, 2014, photo, traders Jeffrey Vazquez, left, and James Denaro work on the floor of the New York Stock Exchange. Most global stock markets fell sharply Friday March 14, 2014 over persistent concerns about weakness in the Chinese economy and tensions in Ukraine. (AP Photo/Richard Drew)

The Associated Press

Stocks are modestly higher in early trading as the market stabilizes at the end of a rocky week.

The Standard & Poor's 500 index rose two points, or 0.1 percent, to 1,848 in the first few minutes of trading Friday. A steep drop the day before had wiped out the index's gain for the year.

The Dow Jones industrial average rose 24 points, or 0.1 percent, to 16,130. The Nasdaq composite was up a fraction at 4,261.

Liberty Media, the company controlled by billionaire John Malone, rose 9 percent after saying late Thursday that it would drop its bid to buy the rest of the satellite radio provider Sirius XM.

Aeropostale slumped 17 percent after the teen retailer reported a wider loss and issued a dismal earnings outlook.

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