Wall Street; Preoccupied Investors Barely Alter Markets

Summary

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NEW YORK (AP) - Stocks wobbled in and out of positive territory Wednesday, settling near unchanged levels as the market shrugged off a pair of economic reports that suggested continued strength in the recovery.

A surge in manufacturing activity and better-than-expected data on housing construction failed to impress investors, who are preoccupied with two events expected at the end of the month: an interest rate hike and the hand-over of political power in Iraq. Analysts say the markets are likely to lurch sideways in the meantime, as investors wait to see what will happen.

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Wall Street; Preoccupied Investors Barely Alter Markets

"I think for the next several weeks, we're not likely to see major directional moves," said Jack Caffrey, equities strategist with J.P. Morgan Private Bank. "We're more likely to see a few days u...

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