Although Flat, Wall Street Record consecutive wins 4 Weeks

Wall Street gains recorded a fourth consecutive week in the movement of the flat on Friday, was able to creep higher as the market took a pause after a rally of 3% on a European agreement to stem the debt crisis.

 Although investors still have questions about the implementation of the deal, they seemed satisfied with the progress of Europe as the stock closed in their longest consecutive weekly victory this year.

S & P 500 rose 3.7% for this week. This benchmark index had a seven-week rally that ended in January, but only two weeks in 2011.

October is also on track to be the best month for Wall Street since 1974, supported by strong earnings reports. Merck & Co. Inc. and Chevron Corp. are both managed to exceed expectations with its financial results on Friday.

"We have a very good earnings season and the benefits of what is happening in Europe is that it allows investors to focus on a good earnings season and move the problem of Europe's main concerns of the headlines," said Andrew Slimmon, managing director of Global Investment Solutions at Morgan Stanley Smith Barney in Chicago.

The Dow Jones Industrial Average rose 22.56 points, or 0.18%, to 12,231.11. Standard & Poor's 500 index added 0.49 points, or 0.04%, to 1,285.08. The Nasdaq Composite edged down 1.48 points, or 0.05%, to 2,737.15.

Fears that the eurozone debt crisis will spread and cripple the domestic banking profits have become a big pembeban for equities, with the S & P down nearly 20% earlier this month.

With growing optimism about Europe's debt plan, began to gain momentum bullish and S & P 500 is now up more than 13% this month, on pace for the biggest monthly rise since October 1974.

According to Thomson Reuters data, of 315 companies in the S & P 500 that have reported quarterly results, 71% had posted a profit above analyst expectations.

Head of the European bailout fund down expectations of a quick agreement with China under which the state would provide support behind efforts to solving the crisis but said he expects Beijing to continue buying bonds issued by the rescue fund.

Hewlett-Packard Co. rose 3.5% a day after saying they did not continue the plan to stop the personal computer unit, a plan that is estimated will cost billions of dollars and eliminate the business.

A pair of Dow components posted a stronger-than-expected earnings. Merck rose 2.3% after profit and sales that beat analysts' estimates, and Chevron's profit more than doubled. Its shares rose 0.6%.

Economic data on Friday showed U.S. consumer sentiment rose in October for the second consecutive month as consumers feel more optimistic about economic prospects.