Tuesday, September 14, 2010

Back-to-school spending flap on Wall Street

The obligatory back-to-school spending registered on Wall Street as a general indicator that the economy is improving, however, parents who begrudgingly went further into debt to spend money on their children so they can get a decent education, will be retracting spending severely until the beginning of the Holiday season.

Reuters reported that Wall Street was flat because the financial sector balanced against the gains of retail.

Better watch out. There's going to be a steeper drop between now and Black Tuesday due to the back-to-school effect.
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