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Article: Stocks seesaw on earnings, mixed economic data
- Article from:
- AP Online
- Article date:
- July 14, 2009
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Investors got the solid results from Goldman Sachs they had been looking for Tuesday, but found little else to calm their nerves about the fragile state of the economy.
Stocks fluctuated in a narrow range throughout the day, with some gaining on a handful of strong earnings, and others held in check by downbeat economic data. Treasurys tumbled on news of a jump in inflation.
"You're seeing one step back, one step forward and no one is really sure which way to go," said Doug Roberts, chief investment strategist at Channel Capital Research. "It's an environment of paralysis."
Investors were pleased that Goldman Sachs Group Inc.'s second-quarter earnings easily surpassed analysts' forecasts ...