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Stocks Are Lower but Remain On Track for Monthly Gain

Stocks moved lower on the final trading day of the month, though remained on track for their best monthly gain in four years.

The S&P 500 was down 0.11% on Friday, the Dow Jones Industrial Average fell 0.03%, and the Nasdaq rose 0.1%. Equities have surged more than 8% since the beginning of October.

Benchmark indexes have rallied in October as China and the European Central Bank committed to do whatever it takes to reinvigorate flagging growth. Markets in the U.S. rallied on Wednesday after the Federal Reserve held rates steady. However, a potential December rate hike was left in play. Investors had hoped the Fed would provide further clarification on how likely a rate hike this year might be.

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