Good week for the Dow ... Oil prices level off ... Raising a bridge

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Associated Press

Posted on February 23, 2013 at 1:03 PM

NEW YORK (AP) — The Dow ended the week on a strong note, gaining 120 points to close at 14,001. The Nasdaq rose 30 to 3,162 but the S&P 500 posted its first weekly loss of the year. While it rose 13 points Friday to 1,515, it still had a loss of 0.3 percent for the week.

NEW YORK (AP) — While they may be only temporary, there are signs the upward spiral in gas prices is slowing. The price of oil was little changed Friday after a 5 percent fall over the last two days. Benchmark crude finished at $93.13 a barrel. According to the AAA the national average for a gallon of regular gas was $3.78 -- about where it was Thursday but 14 cents higher than a week ago and almost half a dollar more than a month ago.

NEW YORK (AP) — Wall Street is holding its nerve with barely a week to go before $85 billion in automatic government spending cuts kick in. The Dow has gained 6.8 percent since the start of the year as investors have largely ignored the latest installment of Washington budget drama. The S&P 500 had a streak of seven straight weeks of gains, before easing back this week. Even after its weekly loss of 0.3 percent, it's still up 6.3 percent this year.

WASHINGTON (AP) — AT&T is announcing a tentative agreement on wages, pensions and other benefits for more than 20,000 of its unionized workers. The four-year agreement covers members of the Communications Workers of America in 36 states and the District of Columbia. The agreement must be ratified by union members.

NEWARK, N.J. (AP) — The Environmental Protection Agency is calling for a review of plans to raise a major New York-area bridge. The Port Authority is looking to raise the Bayonne (BAY'-ohn) Bridge by more than 60 feet to accommodate ships coming from Asia through a widened Panama Canal. The Coast Guard's preliminary environmental assessment concluded the project will have no significant environmental or health effects, but residents of New York and New Jersey worry increased truck traffic could lead to diesel pollution.

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