Word: marching
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Dates: during 2000-2009
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After a 40% rally in the S&P 500 off its March market lows, Wall Street strategists had been expecting a market pullback, or consolidation, as part of an orderly advance. But investors are also increasingly anxious that stocks have risen too far and too fast relative to prospective earnings. Even after the decline on June 16, stocks still sell at more than 20 times their expected earnings for 2009 - far from cheap. (See pictures of scared traders...
Despite June 15th's market weakness, investment managers are optimistic that stocks will not head back to their March lows, since the scariest part of the financial crisis appears to be over. That said, most do anticipate an ongoing correction that might take stock prices down another...
...collapsing home prices. That's the forecast of an extensive new report on residential real estate by Deutsche Bank, which calls for home prices in metropolitan New York City (which includes Westchester, northern New Jersey and other nearby areas) to fall 40.6% from the prices that prevailed in March...
...Ironically, that dire forecast is wrapped in an improving forecast for nationwide home prices. Back in March, Deutsche Bank analysts had expected national home prices to decline 16.5%; now they foresee just a 14% decline. That mildly upbeat news does not hold true for the New York City area, however, which is expected to see a 40.6% drop. While that is also a slight improvement from the March forecast, it is dire nonetheless. (See photos of the global financial crisis...
...even had a nightmare scenario yesterday," a senior European diplomat said the day after the meeting with Burns and Ross in March. If a moderate were elected and negotiations with Iran still went nowhere, how would the U.S. and Europe stop Iran from going nuclear? With its centrifuges spinning, Iran could continue to amass enriched uranium while presenting to the outside world an openness to compromise, the diplomat explained. When it came time to confront a stalling Iran by dropping the carrots and applying the sticks, said the senior European diplomat, "Try to imagine how difficult it would...