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Stocks higher after bruising week

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November 12, 2012 09:33 AM EST | AP

NEW YORK — Stocks are opening higher on this Veterans Day.

Just after the start of trading, the Dow Jones industrial average is up eight points at 12,823. The Standard & Poor's 500 index is up two at 1,382. And the Nasdaq composite index is up 11 at 2,916.

Last week, the market had its biggest sell-off of the year after the re-election of President Barack Obama. Investors are worried about the "fiscal cliff," tax increases and government spending cuts that go into effect Jan. 1 unless Congress acts.

The bond market is closed Monday.

Stocks in Europe are mixed after Greek lawmakers approved a 2013 budget overnight. The head of the finance ministers of the 17 euro countries says lenders have prepared a "positive" report on the country.