Stocks took a breather on Monday, as investors took some profits from last week’s steep run-up. The markets slid again on Tuesday leading up to Alcoa’s kick-off of the fourth quarter earnings cycle after hours. Alcoa’s positive earnings report gave the major indexes a boost on Wednesday, as the Dow and S&P 500 recouped part of their losses from earlier in the week. On Thursday the rise continued with an 80 point gain by the Dow on positive job news. While initial unemployment claims rose more than expected, continuing jobless claims sank to their lowest level in more than four years. The S&P 500 also hit a 5-year high. The week ended on Friday with stocks essentially unchanged after a disappointing earnings report by banking giant Wells Fargo.
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