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  • Wall Street Dips on Weak Economic Data

    Published on August 4, 2010

    Wall Street dipped on Tuesday as weak data stirred concerns on economic recovery. All major indexes fell about 0.5 percent at the closing.

    The Commerce Department reported that personal spending and incomes were flat in June, while the personal savings rate rose to the highest level in nearly a year.

    Meanwhile, another report from the Commerce Department showed factory orders dropped 1.2 percent in June, more than economists had predicted.

    The Dow Jones industrial average fell 38.00 points, or 0.36 percent, to 10,636.38. The Standard & Poor’s 500 index dropped 5. 40 points, or 0.48 percent, to 1,120.46 and the Nasdaq was down 11. 84 points, or 0.52 percent, to 2,283.52.

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