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Stocks pull back from record highs
Brace yourself, it's going to be a bumpy ride. Stocks soared right out of the gate Friday, but the momentum is already starting to fade. The S&P 500 hit a record high almost immediately after the opening bell in a frenzy of buying that traders said was tied to the expiration of options contracts Friday. The index quickly backed off the highs, but remained higher in early trading. The Dow Jones industrial average also gave back some of its initial gains. The Nasdaq turned lower. Stocks could be volatile Friday because four futures and options contracts expire -- a phenomenon known as quadruple witching. ... (full story)