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Stocks Rise in Volatile Week
Stocks declined in three of last week’s five volatile trading days but still managed to post gains for the week. The gain was primarily due to lessened fears that the Federal Reserve Board will raise interest rates when it meets this week. The catalyst for that was another series of disappointing economic reports.
If the Fed does increase rates at its meeting this week, a temporary selloff is likely and vice versa if the board holds off. Other than the meeting, this will be a slow week for economic reports.