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Stocks Squeeze Out Yet Another Victory

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Today's financial recap and tomorrow's financial outlook.

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The S&P 500 (INDEXSP:.INX) once again defied the skeptics by putting in a solid rally to finish higher for the sixth straight week.

Many market strategists have been calling for a pullback due to too-bullish sentiment, yet the market is in the middle of yet another slow grind higher up the wall of worry.

Earnings season continued today, with better-than-expected earnings from CBOE Holdings (NASDAQ:CBOE) and American Axle (NYSE:AXL), and weak reports from Laboratory Corp. (NYSE:LH) and Louisiana-Pacific (NYSE:LPX).

But the real stock story today was Moody's (NYSE:MCO), which suffered a big decline despite a better-than-expected earnings report as investors grow concerned over the spillover from the Department of Justice's investigation of fellow bond rater Standard & Poor's (NYSE:MHP). Though on a more positive note, social media powerhouse LinkedIn (NYSE:LNKD) skyrocketed on yesterday afternoon's monster earnings numbers.

In economic news, the December Trade Balance was reported at -$38.5 billion, which was better than expected. Additionally, December wholesale inventories came in at -0.1%, which was lower than the +0.3% consensus forecast.

Monday's Financial Outlook

Before the open on Monday, we will see earnings reports from Loews Corp. (NYSE:L), American Capital (NASDAQ:ACAS), and Radian Group (NYSE:RDN). After the close, TW Telecom (NASDAQ:TWTC), Annie's (NYSE:BNNY), and Masco (NYSE:MAS) will deliver their numbers.

There are no major economic reports scheduled for Monday.

Twitter: @Minyanville

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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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