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S&P 500 takes a round trip

August 20, 2009

After all the handwringing earlier this week about the consumer and the global economy, it looks like the S&P 500 is back to exactly where it started, more or less, a week ago.

But don’t get too comfortable. U.S. markets are still following the volatile Chinese stocks and the current optimism on the U.S. economy – thanks Philadelphia Fed – can quickly turn sour with the next data point showing consumers are still feeling blue.

S&P 500 up 1.09% at 1007.37 – on Aug 13 it was at 1,012.73.

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