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Stocks Advanced Last Week
Investors enjoyed a second week of rising stock prices despite some discouraging economic news and anemic trading volume. For the week, stocks gained over 1% on average, led by large company stocks which were laggards over the previous week. European stocks continue their turnaround and climbed to new records.
Two areas of particular interest this week will be an onslaught of first quarter corporate earnings reports and Friday’s consumer price index for March. On the earnings front, the expectation is for a decline in profits of almost 5% year-over-year which would be the worst performance since 2009.