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Jitters on Wall Street Cool Off Stocks
Stocks couldn’t gain any traction last week due primarily to almost daily pronouncements out of Washington that discomfited investors. As if that isn’t enough, February retail sales declined for the third consecutive month, calling into question the robustness of the economy.
For the week, U.S. stocks declined about 1%. Foreign shares managed to eke out a small gain. Despite the concerns over the economy, stock analysts are still optimistic about the prospects for the rest of the year, citing a strong job market, low inflation expectations, and increasing activity among U.S. manufacturers.