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Around the World's Markets: New York

STOCKS rose, led by AT&T as the US phone giant won the war with Comcast for MediaOne. The Dow Jones Industrial Average rose 69.30 points to close at 10,955.41, with AT&T the biggest gainer. The S&P 500 gained 15.32 to 1,347.32, while the Nasdaq Composite rose 49.20 points to 2,534.32, its first rise of the week.

Investors who sold stocks and index futures on concerns that interest rates would rise are rethinking as bonds are little changed, say traders.