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Money not backing road to recovery
AP analysis notes limited investor willingness to bet on an economic recovery. Retail hints fade as mid-year sales slump, while big firms cut salaries and capex. Inflation-adjusted capital spending plans fall to 3.9 percent. Stock market optimism remains tepid despite bargains, with many stocks trading below book value and a weak conviction to pay for future value.
MENTIONED IN THIS ARTICLE
John Cunniff
New York
Sears
Penney
McGraw-Hill
Standard & Poor
Standard & Poor’s Outlook
S&p