Economic Recession
Script and Key
It was a seesaw day on Wall Street as the major averages wavered in and
out of positive territory. Analysts largely expect the Central Bank to leave its
key interest rate unchanged at two percent Wednesday after cutting that rate seven
times since last August. Investors focused on two big economic readings, one
showing consumer confidence dropped in June to its lowest level in 16 years as
Americans grow increasingly pessimistic about the economy. The other report
shows home prices declined in April for the 21st consecutive month. The
S&P/Case-Shiller index says Miami and Las Vegas were the weakest U.S. markets
last month, with prices slumping by more than 26 percent from a year ago.