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Stocks Recover a Bit Despite Frightening Volatility
Last week opened with a heart stopping 1,000 point decline in the Dow Jones Industrial Average, although at the end of Monday’s trading, the Dow was down a “mere” 600 points. The bloodletting continued on Tuesday, but that was thankfully followed by two strongly positive days. For the week, the large-cap stock indexes rose around 1%.
Investors are still fearful and, as September dawns, will focus on whether the Federal Reserve Board will raise interest rates in September or later. Meanwhile, economic reports continue to point to a strong second half for the U.S. economy.