Pursuits
‘Buy’ Signals Flashing With Plunge in Confidence: John Dorfman
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Consumer confidence last week hit its lowest level in five months, the Conference Board reported in its monthly sentiment survey. The confidence index fell to about 50, far below its 20-year average of about 94.
Many observers are taking the news hard. “Faith in the economic recovery is failing,” said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia.