media spin..

  1. 1,200 Posts.
    SPIN DOCTORS; both articles are from Reuters written from two different authors at two different times but tell very different stories from the same info!!

    [REPORT NO.1]
    Economy Mending? Jobless Down, Gauges Up
    Thursday June 19, 4:22 pm ET
    By Doug Palmer

    WASHINGTON (Reuters) - Economic gloom lifted slightly on Thursday with reports showing a fall in U.S. jobless claims, signs of a pickup in mid-Atlantic factories and a strong gain in a broad economic forecasting gauge.

    The Labor Department said first-time claims for unemployment insurance fell for the second week in a row last week, while the Philadelphia Federal Reserve Bank said its June factory index rose after three months of declines.

    [REPORT NO.2]
    Stocks Hit by Disappointing Data
    Thursday June 19, 7:25 pm ET
    By Elizabeth Lazarowitz

    NEW YORK (Reuters) - Stocks slumped on Thursday after a report said manufacturing in the Mid-Atlantic region had not picked up in June by as much as some investors had expected, tempering hopes for an imminent economic recovery.

    Investors are beginning to question the sustainability of a rally, fueled by anticipation of an economic rebound, that has driven the Standard & Poor's 500 Index up more than 24 percent from its 2003 low hit in mid-March, analysts said.

    "Investors are very worried about valuation," said Hugh Johnson (News), chief investment officer at First Albany Corp. "They are becoming more worried that we've come too far, too fast, and won't get strong enough growth in the economy and earnings in the second half of this year to support stocks at current levels."

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