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U.S. stocks pare gains, slip into losses for week
U.S. stocks pared gains after a big surge Thursday slipping back into negative territory for the week, after the previous session’s sharp rebound as China showed signs that measures to stabilize its economy and stock market may be taking hold. A larger-than-expected upward revision to U.S. gross domestic product data, showing that U.S. economy grew at a faster 3.7% in the second quarter, helped lift the spirits of investors that have been unsettled by a spate of volatility. Weekly data on jobless claims, which pointed to continued strength in the labor market, added to the optimism. “Today’s revision means the ... (full story)