The Brighter View

The drop in the market completely ignored the good news that continued to pour out from company after company last week. The auto industry turned out 196,635 cars and trucks, breaking its own record for the third successive week. For the tenth week in a row, steel production was at more than 100% of capacity.

Industrial expansion, which had been expected to drop by 11% this year, was on the rise again. The Department of Commerce reported that U.S. corporations will spend $4.48 billion on new plants and equipment in the third...

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