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Stocks End Week Mixed
Uninspiring economic news dominated the investment markets last week, including weak housing starts and lower inflation readings. As expected, the Federal Reserve Board raised interest rates by a quarter of a percent. Friday’s big news of Amazon’s acquiring Whole Foods weighed on stocks that produce and sell food. In effect, a very large sector of the U.S. economy is in the crosshairs of a disruptive behemoth.
More economic reports are published this week, including home sales and leading economic indicators. Also, second quarter corporate profit reports and outlooks are just a few weeks off.