The major indexes opened the week on Monday with minor losses brought on by a report over the weekend of a slowdown in the Chinese economy. Alcoa opened the second quarter earnings season on Tuesday with a less than stellar earnings report, sending the S&P 500 and the Dow to their fourth consecutive losing sessions. On Wednesday the slide continued when the Fed minutes for its June meeting indicated that monetary easing will not be happening any time in the immediate future. The Dow’s losing streak was extended to six sessions on Thursday, its longest in nearly a year. However, all the Dow’s weekly losses were erased on Friday, when the benchmark registered a 200 point gain on a surprisingly good earnings report form J.P. Morgan Chase.
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