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US Stock Market Stalled - 2001-07-28


Neither the U.S. economy nor the U.S. stock market is making a lot of progress lately. Last week's trading activity on Wall Street reflected what analysts are calling investor nervousness in the face of poor corporate performance.

The Dow Jones Industrial Average will start the new week at 10,416, after dropping about 1.5 percent last week. The tech-weighted NASDAQ composite was unchanged after five trading sessions.

The stock market and the U.S. economy appear to be stalled. Some experts are hopeful about the second half of this year. But the latest economic data showing second-quarter GDP growth at its weakest level in eight years has investors running for cover.

Add to the picture the sharp decline in corporate earnings, with some big-name companies actually posting losses, and analysts see only sporadic buying interest on Wall Street.

That is not expected to change until investors see signs that the U.S. economy is starting to turn around.