Few commentators would have predicted the unfancied US stock market would have established such...
Few commentators would have predicted the unfancied US stock market would have established such a clear lead over all other leading equities during the year to date. More surprisingly, who would have predicted the Nasdaq Composite Index, dominated by highly-valued mega-sized technology stocks, such as Cisco, IBM and Intel, would deliver a positive return over the same period? The pattern of economic news is providing little support for this trend. Investment spending has remained in the doldrums, unemployment is edging upwards and manufacturing activity, which was showing signs of reco...
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