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Strategies & Market Trends : Range Bound & Undervalued Quality Stocks

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To: JakeStraw who wrote (4276)	4/22/2001 11:55:43 AM
From: Esway	Read Replies (1) of 5499

cbs.marketwatch.com <<<But in the past few weeks Corporate America, witnessing the volume of incoming orders shrink and profits falling well below expectations, accelerated the pace of job cuts. Payrolls fell in March by 86,000-the biggest monthly decline since 1991, while unemployment rose and first-time claims for jobless benefits suddenly shot up to nearly 400,000 per week. That's a level that usually precedes the onset of a recession. Not surprisingly, this development depressed consumer confidence-which had just shown signs of bottoming out-and with it retail sales. With consumer spending, which accounts for two-thirds of all economic activity, finally beginning to decline, the U.S. seemed more likely than ever to slip into a recession.>>

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