Wall Street dips after disappointing data
By Chuck Mikolajczak NEW YORK (Reuters) – Stocks dipped on Thursday after a batch of weaker-than-expected economic data triggered more concerns about the global economy and put the S&P 500 on key a technical support level. The Philadelphia Federal Reserve Bank said its business activity index dropped to 1. 3, from 2. 0 the month before, shy of economists’ expectations for 3. 0. In addition, the Conference Board said its Leading Economic Index dropped 0. 1 percent, below the expected 0. 1 percent increase and the first drop in seven months. . . .
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