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The stock market had no sparkle on Thursday as the nation prepared to celebrate its 233rd birthday this weekend.
Crude oil futures dropped more than $2 a barrel Thursday. Earlier in the morning, the monthly jobs report showed that the unemployment rate had risen to 9.5%. For the week, the Dow lost 1.8%, the S&P 500 gave up 2.4%, and the Nasdaq dropped 2.3%. The market is approaching second-quarter earnings season, which should provide some clear signals as to whether stocks can build on their stellar first half of the year. Alcoa (AA - commentary - Trade Now) will start the season when it reports results Wednesday afternoon. Analysts are expecting a loss of 34 cents a share on revenue of $3.93 billion, according to Thomson Reuters. So where do you think the market is headed next week? Please vote in our poll below.
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