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Investors capped off a whip-sawing week by sending shares lower Friday despite stronger-than-expected quarterly earnings results from a trio of major US banks, as rallying oil prices and geopolitical tension kept the market on the defensive. The S&P 500 Index was down 0.5% on Friday but up 0.4% for the week, the Dow was up 0.1% on the day and up 0.8% for the week, while the Nasdaq Composite was down 1.2% on Friday and 0.2% lower for the week. Meantime, European shares also ended the week in negative territory, with the DAX and Euro Stoxx 50 shedding both more than 1.5% on Friday as travel and leisure shares tumbled more than 2%. The DAX retreated for the fourth consecutive week while the broader Euro Stoxx 50 managed to gain about 0.6%.
Summary for 16.10.2023
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