Fifth straight week of losses for stocks
Evidence is piling up that the economic recovery has lost some of its vigor. That has deflated a stock market rally and pushed indexes down for five straight weeks, the longest losing streak since mid-2008.
So, what's next? Don't hold out hope for more help from the government, analysts say. Another round of stimulus spending isn't in the cards, the Fed has already slashed interest rates near zero and has said it will end its bond-buying program on schedule at the end of this month.
Only 25¢ for 5 months
Evidence is piling up that the economic recovery has lost some of its vigor. That has deflated a stock market rally and pushed indexes down for five straight weeks, the longest losing streak since mid-2008.
So, what's next? Don't hold out hope for more help from the government, analysts say. Another round of stimulus spending isn't in the cards, the Fed has already slashed interest rates near zero and has said it will end its bond-buying program on schedule at the end of this month.
With high gas prices crimping consumer spending and companies still reluctant to hire, investors may have to settle for a stock market and an economic recovery that plod slowly along.
A weak employment report spurred another stock sell-off Friday, two days after the Dow Jones industrial average had its worst drop in nearly a year. The Dow lost 97.29 points, or 0.79 percent, to close at 12,151.26.
The Standard & Poor's 500 index fell 12.78, or 0.97 percent, to 1,300.16. The Nasdaq composite fell 40.53, or 1.46 percent, to 2,732.78. Each index lost 2.3 percent for the week. -- AP