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Stock market news today: Stocks end the week higher after earnings, Fed

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US stocks drop but end the week with strong gains after latest Fed move and mega-cap earnings

reported earnings results that mostly missed analyst estimates. They also offered mixed guidance. Alphabet and Amazon fell in Friday trades, while Apple gained about 3%. , more than double the estimate of 188,000. The unemployment rate fell to 3.4%, representing the lowest level in 54 years.

About half of S&P 500 companies have reported fourth-quarter earnings. Of those companies, 70% are beating profit estimates by a median of 6%. Meanwhile, 62% of those companies are beating revenue estimates by a median of 4%, according to Fundstrat.

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