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AP on Monday's Market ( 05/18/09)

  • "In the near term, it's really hard to break out of that 850 to 950 trading range," Genter said, referring to the S&P 500. The index closed last week down 5.2 percent.
  • Analysts say the market is also not likely to return to the 12-year lows it hit in early March because investors are more confident now.
  • Genter said there is still plenty of money waiting to be invested. If the market pulls back further, investors who missed out on the spring rally are likely to get back into the market, which could lend some support to prices.
  • Reporting results this week. Among the largest are home improvement retailers Lowes Cos. and Home Depot Inc., retailer Target Corp. and technology firm Hewlett-Packard Co.
  • The spring rally stalled last week after a worse-than-expected report on April retail sales had investors rethinking their optimism about an economic recovery. For the week, the Dow fell 3.6 percent and the Nasdaq composite index slid 3.4 percent.
  • Retail Sales rose in both January and February before retreating in March and April (-0.4%).
Read the article at Yahoo Finance - "Stock rally stalls as investors await new catalyst" By Stephen Bernard, AP Business Writer
On Sunday May 17, 2009, 1:51 pm EDT

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