Stocks higher at midday after string of down days

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The stock market is inching higher at midday after three days of declines.

The Standard & Poor's 500 index rose three points, or 0.2 percent, to 1,933 at 12 p.m. Eastern time Friday. The Dow Jones industrial average climbed 30 points, or 0.2 percent, to 16,763. The Nasdaq gained seven points, or 0.2 percent, to 4,305.

Intel jumped 7 percent after the world's largest chipmaker said late Thursday that sales of business computers have been stronger than expected, and raised its revenue forecast.

Oil added modestly to gains earlier in the week. Crude is rising because Iraq's insurgency threatens to disrupt exports from OPEC's No. 2 oil producer. The price rose 23 cents to $106.76 a barrel after a jump of more than $2 the day before.

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