The S&P 500
closed at a record high for the second straight day on Friday to cap its
biggest weekly gain in three months as stronger-than-expected earnings from
Google, Morgan Stanley and others overshadowed worry that earnings growth was
faltering.
The reassuring
signals on profitability augmented investors' relief over the resolution
earlier in the week of the budget impasse in Washington that had threatened to
trigger a potentially catastrophic default on the U.S. debt.
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