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Article: ON BUSINESS; ENJOY IT WHILE IT LASTS; Rate cuts may not be enough to keep stock market rising; A bunch of downward economic signals suggest that we've already had our end-of-the-year market rally.(BUSINESS)(ON BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- October 2, 2007
- Author:
CopyrightCOPYRIGHT 2007 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Neal St. Anthony; Staff Writer
Even as the stock market reached record highs Monday, economists and market analysts were scratching their heads and wondering how much energy is left in the market amid strong hints of an economic slowdown. Scott Anderson, senior economist at Wells Fargo & Co., said in his weekly bulletin Monday that even another Federal Reserve rate cut isn't going to reverse declining consumer confidence, a slowdown in retail sales, high oil prices, slow-growth wages and the meltdown of financial and housing stocks this year. In short, there's a lot of bad economic news out there, despite the market's surge.
"Consumers finally ...