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Investors Fret as Greece Debacle Comes to a Head
Stocks declined over 1% last week as Greece defaulted on a debt repayment. While the Greek economy is only the size of Connecticut’s, the concern throughout the world is the possibility that Greece’s problems will spread and somehow threaten the future of the European Union. Sunday’s vote rejecting the European Union’s austerity measures will make trading this week very challenging indeed. The investment markets hate uncertainty.
Corporate earnings season starts this week. The consensus opinion suggests that corporate profits are going to slow a bit, as will increases in home prices.