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[video] Quick Take: Major Stock Gauges on Track to Add 1% for the Week

NEW YORK (TheStreet) -- Friday's trading action is slow, which comes as no surprise during the holiday-shortened week. TheStreet's Jeanne Yurman analyzes the day's biggest headlines. 

The broader indices are trading near flat on Friday. Should they go green however, it will mark the seventh consecutive daily close in positive territory. That would be the longest such streak since March, Yurman said. 

She added that all three major indices -- the S&P 500, Dow Jones Industrial Average, and the Nasdaq -- are on track to tack on more than 1% this week alone. 

Separately, Ford (F) and its Chinese partner, Chongqing Changan, are recalling 81,000 Kuga cars, due to a steering component issue. Currently, Ford shares are lower by less than 1%.

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Another Detroit automaker is also in the news. General Motors (GM) and its Chinese partner, SAIC, will recall 1.46 million Buick and Chevrolet vehicles due to defective fuel pump brackets, Yurman said. Shares are currently lower by roughly 1%. 

This report is according to a Chinese regulator and the recall is one of the largest ever in China, she added. 

Finally, Textron (TXT) will acquire Beechcraft for $1.4 billion in cash, to boost its current lineup of aircraft, Yurman said. 

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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