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Stocks Churn As Results Start to Pour In - CNNMoney.com -- Stocks seesawed Monday as investors eyed a weak dollar, higher commodity prices and a selloff in technology shares ahead of the start of the quarterly reporting period, which began after the closing bell with Alcoa.
The Dow Jones industrial average gained 46 points, or 0.4%. The S&P 500 index added 2 points, or 0.2%. The Nasdaq composite lost 5 points, or 0.2%.
The fourth-quarter reporting period got underway Monday after the close, when Dow component Alcoa issued its results.
Stocks gained Friday as a tech rally helped investors look past a surprisingly weak jobs report, leaving all three major indexes at 15-month highs.
Obama May Use Bank Tax to Recoup Bailout - The White House is considering a tax on financial institutions to ensure that taxpayers who bailed out banks get paid back, a senior administration official said Monday.
The law that created the $700 billion Troubled Asset Relief Program empowered the president to ask Congress to recoup money if bailouts were not paid back in full.
TARP dictates that the Office of Management and Budget consider such action five years after TARP went into effect in October 2008 to prevent the federal bailout from adding to the deficit.
Robert Gibbs, the White House press secretary, said it is the president's "goal" to ensure the "money that taxpayers put up will be paid back in full."
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