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VOL. 47 | NO. 42 | Friday, October 13, 2023
Wall Street struggles as war worries collide with hope for stronger profits
NEW YORK (AP) — U.S. stocks mostly fell after getting pulled in opposite directions by competing waves of optimism and fear.
The S&P 500 slipped 0.5% Friday. The Dow edged up by 0.1%, and the Nasdaq composite fell 1.2%.
Worries about escalating violence in Gaza's latest war sent oil prices jumping and Treasury yields falling.
A survey also showed sentiment among U.S. consumers souring on fears about inflation. But several of the biggest U.S. banks at the same time said their profits were better during the summer than feared. That offered hope for the reporting season that just got underway.