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Stocks came back from early trouble to extend over 1% in weekly gains capping the best January in over 30 years. Poor earnings early in the week provided examples of what kind of effect a global slowdown was having on larger stocks. Big name tech companies pulled back ahead of releasing earnings but the modest numbers of their earnings reports were enough for a sell the news reaction and the indices followed.

A dovish stance by the Fed suggesting a longer pause in rate hikes brought ...