Article updated: 3/1/2013 4:06 PM

Stocks close higher despite looming budget cuts

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Gordon Charlop, right, works Thursday on the floor of the New York Stock Exchange.

Associated Press

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All three indexes ended higher for the week: The Dow rose 0.6 percent, the S&P 500 and Nasdaq each rose about 0.2 percent. The Dow came within 15 points of its record close of 14,164 on Thursday before sliding back and ending the day lower.Oil and gas companies fell Friday as the price of crude sank to its lowest level of the year.