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Mixed start on Wall Street as debt talks continue

October 11, 2013

NEW YORK (AP) — The stock market is getting off to a mixed start as talks continue in Washington over ending a budget impasse that has shut down the government and threatened the U.S. with default.

The Dow Jones industrial average inched up five points to 15,132 points in the first few minutes of trading Friday. It surged 323 points the day before as investors hoped that signs of a compromise from House Republicans would defuse the standoff.

The Standard & Poor’s 500 index edged down less than a point to 1,691. The Nasdaq composite also fell less than a point to 3,760.

Two big U.S. banks reported mixed results. JPMorgan Chase’s stock rose after its earnings excluding a big legal expense came in better than analysts expected. Wells Fargo’s revenue missed targets.

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