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Saturday, October 29, 2011

US Stocks flatline after huge rally (ext)

NEW YORK (CNNMoney) -- After pushing stocks to nearly 3-month highs and getting them firmly on track for the best monthly performance in decades, investors stepped to the sidelines on Friday.

U.S. stocks ended little changed after Thursday's rally, as questions and doubts about Europe's debt-crisis deal started to emerge.

The Dow Jones industrial average (INDU) rose 23 points, or 0.2%. The S&P 500 (SPX) added a half a point, or less than 0.1%, and the Nasdaq composite (COMP) lost 1 point, or 0.1%.

"Europe is going to be working on ironing out the details of the plan for months, and we'll probably see a lot of whipsaw action in the markets," said Thomas Nyheim, portfolio manager at Christiana Bank & Trust Company.

The dollar fell against the Japanese yen and British pound, but gained strength against the euro.

Oil for December delivery slipped 64 cents to settle at $93.32 a barrel.

Gold futures for December delivery fell 50 cents to settle at $1,747.20 an ounce.

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