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US stocks edge higher as the market comes off a huge two-day rally; CarMax climbs, Nike falls

NEW YORK, N.Y. – U.S. stocks are edging higher as the market comes off a massive two-day rally.

The market closed out its second-best week of the year Friday.

The Standard & Poor’s 500 index rose nine points, or 0.5 per cent, to 2,070. It rose 3.4 per cent for the week.

The Dow Jones industrial average rose 26 points, or 0.2 per cent, to close at 17,804. The Nasdaq composite added 17 points, or 0.4 per cent, to 4,765.

CarMax jumped 11 per cent after the used car dealership chain reported a surge in earnings. Nike fell 2 per cent after reporting a drop in orders from Japan and developing markets in Asia.

Crude oil surged $2.36 to $56.52 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.17 per cent.