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: Bearish Income and Spending Data Undermines Early Gains on Thin Pre-Holiday Volume
By: MT Newswires
Stocks look to close a very difficult month back on negative turf as continued global tensions, fear of a drain in liquidity and the looming debt ceiling debate work to erase early gains and leaving share prices in the red on very light pre-holiday volume. A regional Purchasing Mangers Index issued today indicated improvement in the Chicago-area manufacturing sector did little to buoy trader attitudes, with investors instead remaining fixated on the below-consensus gains in consumer spending and income.