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Energy stocks up, others wobble after Dow's stellar week

Energy stocks got a boost from a deal that Southern Union Co. struck with Energy Transfer Equity LP. But even as energy stocks rose, others wavered Tuesday.

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Traders work on the floor of the New York Stock Exchange July 5, 2011. Energy stocks for Southern Union Co. rose 2.9 percent after Energy Transfer Equity LP said it would pay $5.1 billion for the pipeline company on Tuesday.

Brendan McDermid / Reuters

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NEW YORK (AP) — Stocks wavered between slight gains and losses Tuesday after the Dow Jones industrial average had its best week in two years.

The Dow Jones industrial average slipped 2 points to 12,580 in afternoon trading. The Dow had risen as many as 19 points after the Commerce Department reported an increase in factory orders. The Standard & Poor's 500 index fell 2, or 0.2 percent, to 1,338. The Nasdaq composite index rose 4, or 0.2 percent, to 2,820. All three indexes were moving in a narrow range.

Trading volume is expected to be light this week. U.S. markets were closed Monday for the July 4th holiday. Many traders are looking ahead to next week, when aluminum maker Alcoa Inc. becomes the first major U.S. company to report financial results.

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