Consumer Sentiment Up, Business Outlook Weak; Stocks May See Modest Gains
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Consumer sentiment has improved significantly recently, but business sentiment remains depressed as measured by the Philadelphia Fed index.
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Historically when consumer sentiment rises this much, stocks are up modestly 6-12 months later - below average gains.
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Earnings disappointments from 3M and GE weighed on futures, while United Airlines beat expectations.
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The Bank of Japan governor said chances of hitting its inflation target are rising.
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A report says China will unveil a stimulus package, boosting stocks there as the "national fate line" is breached.