Third Consecutive Week of Modest Gains

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It was a busy week of earnings announcements, especially for financials, technology and industrials. It was also full of economic news: U.S. consumer confidence was encouraging but retail sales disappointed, leading to a mid-week setback. Nonetheless, U.S. stocks posted a third consecutive week of modest gains; Asian and European bourses generally fared somewhat better. The yield on the ten-year U.S. Treasury fell from 2.10 to 2.03 percent. Gold prices made solid gains, while oil prices declined.

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