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Stocks Off for the Week Despite Friday Rally
The major stock indexes shed between 1 and 2% for the week despite a hefty rally on Friday. Wall Street seers attribute last week’s weakness to concerns about global growth, particularly Europe and Asia. For the year so far, the Dow Jones Industrial Average has gained a scant 3%, but other well-known indexes have fared better. Small cap stocks are a sad exception with losses averaging about 3%.
As the new month commences later this week, some important economic reports will be published, culminating in Friday’s employment data for September