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+--- Thread: Wall Street falls after five-year high, earnings in focus (/thread-8447.html)
Wall Street falls after five-year high, earnings in focus - chairman - 01-07-2013
(Reuters) - Stocks fell on Monday as traders cashed in recent gains that lifted the S&P 500 to a five-year high on Friday and awaited Tuesday's start of the fourth-quarter earnings season.
Last week was the best for U.S. stocks in more than a year as a budget deal and economic data boosted investor confidence.
Investors will likely turn their attention to the fourth-quarter earnings season that kicks off this week. Earnings are expected to be only slightly better than the third-quarter's lackluster results and analysts' current estimates are down sharply from what they were in October.