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NEW YORK (AP) — Stocks are slightly higher Friday thanks to gains for companies that pay large dividends. Investors who want income are buying shares of real estate and phone companies and household goods retailers as bond yields fall. The drop in bond yields is also affecting banks, which are slipping after a huge rally over the last few weeks. The Dow Jones industrial average, which closed at a record high a day ago, is down slightly.
Nico Rosberg abruptly quit Formula One on Friday, just five days after winning his first world title, leaving motor racing stunned and Mercedes looking for a new teammate for Lewis Hamilton. The 31-year-old German, who finally beat off Hamilton for the F1 title last Sunday, is the first reigning champion to retire since Alain Prost in 1993. Rosberg made the bombshell revelation in Vienna ahead of the International Automobile Federation (FIA) annual awards ceremony.