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US stocks mostly fall in profit taking after records

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AFP

New York (AFP) – Wall Street stocks mostly fell Thursday despite strong corporate results, with analysts pointing to profit taking after major indices hit records in anticipation of earnings season. All three major indices had finished at records last Friday and again Monday just ahead of Tuesday’s unofficial kickoff of earnings season. Wall Street has been bullish on the earnings in light of the strengthening US economy. “This could be a classic case of buy the rumor and sell the news,” said Adam Sarhan of 50 Park Investments. “It’s perfectly normal and healthy to see sellers show up after a …

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