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Around the World's Markets: New York

THE DOW Jones climbed 38.53, or 0.3 per cent, to 11,173.32 in midday trading. "There is little to prevent stocks from moving higher quickly, and the advance will not be confined to any one sector," said Fred Russell, of Tulsa, Oklahoma-based Fredric Russell Investment Management.

The Nasdaq fell 5.97, or 0.2 per cent, to 3,588.20, erasing a 42-point rise, as investors sold some of this year's best-performing stocks, including Qualcomm Inc. and Nextel.