The major averages see small gains but fall for the week as sparring begins between the White House and House Speaker Boehner on fixing the fiscal cliff. Apple rallies after three big losses. Disney sags. Kayak jumps after merger with Priceline.com.
The S&P's winning streak is its longest since December 2010 as US shares come back from early losses. China reports almost no export growth in July. JC Penney shows a loss, but shares jump. Manchester United shares get little respect.
The department store chain posts a loss but beats analysts' estimates. The newspaper publisher may report a quarterly profit.
Down 135 points after the open, the Dow ends down just 3 points. The S&P and Nasdaq move higher. Hopes build for Friday's jobs report as jobless claims fall. Bank of America tops $6. Did Apple sell 35 million iPhones in December?
The coming week will start with market reaction to the US debt downgrade. The Federal Reserve meets Tuesday. Disney and Cisco Systems top the earnings reports, along with Molycorp and retailers Macy's, Nordstrom and Kohl's.
While many retailers are consolidating, the 2 department stores plan to open new locations nationwide.
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