Stocks took a break from the recent run up on Monday, as investors used a decline in steel demand as an excuse to sell. A decline in crude oil prices also weighed down the energy component of the major indexes. On Tuesday the markets were largely unchanged as an increase in home builder’s confidence was offset by Fed Ex’s announcement to cut its full-year earnings outlook. Despite some good news on Wednesday – existing house sales rose in August, and Japan will implement a bond-buying program to stimulate its economy – stocks were once again largely unchanged. On Thursday the major indexes finished mixed, barely reacting to a US jobless claims report that showed a larger than expected increase in new jobless claims. The market finished the week on Friday with a small loss on very high volume.
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