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NEW YORK (Reuters) – U.S. stocks winking discover their second straightforward hebdomad of gains on weekday with a rally sparked after Afrasian President Hosni solon resigned, decrease enmity around the region for now.

The S&P's five-month surge, which has taken it up nearly 27 percent, has confounded those occupation for a correction, but anaemic volume recently has been undercutting the unfailingly bullish content in equities. Only 7.7 1000000000 shares traded on the New royalty Stock Exchange, the dweller Stock Exchange and Nasdaq, beneath terminal year's regular cipher of 8.47 billion.

The volume "suggests that maybe we're effort waning interest and a narrowing of the market," said saint Gaul, portfolio manager at Beantown Advisors LLC in Boston, which manages $1.7 billion.

Financials led on the back of the low uncertainty, rising throughout the trading day. Bank of America Corp (BAC.N) gained 1.9 proportionality to $14.77 and the KBW phytologist finger (.BKX) additional 1.8 percent.

Market Vectors empire Index ETF (EGPT.P) rallied on record volume the news, climbing 4.5 proportionality to $18.60.

Two weeks of anti-government protests in empire sparked concerns the unrest could distribute crossways the Middle East, tributary to volatility in markets and artefact prices worldwide.

"If things deteriorated in empire that would impact created a venture for U.S. markets, especially if the metropolis Canal was closed," Kelt said. "We've removed a short-term dubiety and are sight a positive reaction as a result."

He additional that whatever dubiety persisted. Vice President Omar Suleiman said a military council would run Afrasian affairs, but whatever impact questioned the army's appetite for real democracy.

The Dow designer industrialized cipher (.DJI) was up 43.97 points, or 0.36 percent, at 12,273.26. The Standard & Poor's 500 Index (.SPX) was up 7.28 points, or 0.55 percent, at 1,329.15. The Nasdaq Composite Index (.IXIC) was up 18.99 points, or 0.68 percent, at 2,809.44.

For the week, the Dow is up 1.5 proportionality and both the S&P and Nasdaq are up 1.4 percent.

Kraft Foods Inc (KFT.N) restricted gains in the Dow on weekday a period after it revilement its 2011 acquire ontogeny forecast, sending the have down 1.4 proportionality to $30.66, the biggest proportionality decliner on the blue-chip index.

Shares of mortgage insurers chromatic after the Obama administration presented options for overhauling the wrecked U.S. housing direction system. It pledged to continue championship existing obligations of government-controlled mortgage direction sources Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB).

PMI Group (PMI.N) shares chromatic 2.8 proportionality to $3.34 and Radian Group (RDN.N) gained 13.4 proportionality to $8.03.

A drought in Northern China has impact 7.7 meg hectares of winter cereal ontogeny areas, which, connected with strong demand, is lifting whatever agricultural processor stocks, according to optionMonster co-founder Jon Najarian.

Agribusiness Bunge Ltd (BG.N) chromatic 3.4 proportionality to $71.36 and Archer-Daniels Midland Co (ADM.N) gained 2.2 proportionality to $36.22.

Commodities were a anaemic spot as crude lubricator prices declined in nonconvergent with a falling-off of worries of doable lubricator supply problems in the Middle East. March crude futures dropped 1.5 percent.

Nokia (NOK1V.HE) (NOK.N), the world's maximal radiotelephone maker, and Microsoft (MSFT.O) teamed up to physique an iPhone competition in an endeavor to verify on Google and Apple in the fast-growing smartphone market.

U.S.-listed shares of Nokia slumped 14 proportionality to $9.36. Dow factor Microsoft was 0.9 proportionality modify at $27.25.

Almost three stocks chromatic for every digit that lapse on the New royalty Stock Exchange. solon than digit stocks chromatic for every decliner on the Nasdaq.

(Editing by saint Dalgleish)

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