20 May 2002 Slowly, But Surely

Investors spent the week coming to terms with the increasing likelihood of a slow economic recovery, mixed corporate news, softer retail sales, renewed terrorist threats, and general apathy.  The S&P was up two days and down two, not counting today.  It was down 1.3% for the week.  Our models were down only slightly though, due to the changes made over the last few weeks.