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U.S. Markets Pulling Back
U.S. stocks suffered their first weekly loss since May last week, further exacerbating trader concern that the bullish surge that sent share prices up as much as 40% from their March lows may have been overdone.
Traders have grown increasingly fearful in recent weeks that the powerful surge in the three major U.S. stock indices – one of the strongest in history – may not have been justified because of an ongoing economic recovery that’s not as strong as originally believed.
"There’s no question in my mind that the economy is improving," Phil Orlando, chief equity market strategist at Federated Investors, told…
22Jun2009 | Money Morning | 0 comments | Continued
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