Stocks closed mixed Friday as Google’s strong earnings lifted tech stocks but mounting concern over the foreclosure crisis and a revenue miss from GE weighed on financials and the broader market.
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Stocks rose Friday and the Dow crossed the 11,000 level for the first time since early May. September’s dismal jobs reports raised traders’ expectations for another round of monetary easing from the Federal Reserve.
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Earnings season unofficially kicks off after the markets close Thursday when Alcoa reports. And some big-name beat-and-raise earnings reports could be just the spark to ignite that market-moving dry powder.
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The Dow surged nearly 200 points, while inflation fears propelled gold to another record close.
The Institute for Supply Management said its services index rose to 53.2 last month from 51.5 in August. Economists had expected t…
Stocks kicked off the final quarter of the year with moderate gains Friday as more encouraging data on consumer spending, consumer sentiment and auto sales were partly offset by a slowdown in manufacturing activity.
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