Markets mixed at end of corporate earnings week

Trader Andrew O'Connor works on the floor of

Trader Andrew O'Connor works on the floor of the New York Stock Exchange. The attention will remain on the U.S. stock market on Friday, with JP Morgan and Wells Fargo Bank poised to kick off the earnings season for the banks. (Oct. 9, 2012) (Credit: AP)

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Stocks closed out their worst week since June after investors looked over third-quarter corporate earnings reports and decided there wasn't much to get excited about.

The big indexes were mixed Friday. But they were all down more than 2 percent for the week. It was the worst weekly showing since the Standard & Poor's 500 index fell 3 percent the week ending June 1.

The S&P closed down 0.3 percent at 1,428.59 Friday. The Dow Jones industrial average edged up 2.46 points to close at 13,328.85. The Nasdaq composite lost 0.17 percent to close at 3,044.11.

Investors haven't had much to like this week and have seemed unsure how to evaluate the news, with mixed results from U.S. companies including Alcoa, Safeway and Yum Brands.

But looking beyond this week, stocks have had a strong run. The S&P 500 is up 11.8 percent since June 1. The run-up suggested that investors were anticipating a strong economic recovery.

The question is, "is America going into recession with the rest of the world," or will it "lead the way out of recession for the rest of the world," said Randy Warren, chief investment officer for Warren Financial Service.-- AP