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Stocks Move Back into the Black
After three consecutive weeks of losses, stocks rebounded sharply last week. Credit for the ebullience rests squarely on the Federal Reserve Board’s assurance that the planned increase in interest rates will be very gradual. For the week, the average stock rose almost 3%, bringing the year-to-date performance of the major stock indexes back into positive territory.
Reports on home sales come out this week and will be closely watched because there have been signs that housing activity has slowed. Otherwise, economic statistics that could affect stock prices will be few and far between.