Investors take wait-and-see approach

Investors take wait-and-see approach – Making News

Bob Dumas

With the war largely over, investors now are turning their attention to the strength of corporate profits. While first-quarter earnings generally have been better than expected, the market remains concerned about the long-term economic outlook, according to MSNBC.COm.

Analysts said many investors are avoiding making major purchases until key reports on the nation’s gross domestic product and consumer confidence are made. They noted that the market isn’t going in a straight line anymore.

Once again, pool and spa industry-related stocks were fairly stagnant, with a few notable gainers on the NYSE: Mohawk Industries (+3.03), Alleghany Corp. (+2.25) and A.O. Smith Corp. (+1.97). Tecumseh Products and Franklin Electric led the NASDAQ with gains of 3.29 and 2.06, respectively.

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