Concerns are Growing Over Slower Growth in the US

Also, one key leadership group is showing some cracks

• The reaction to yesterday’s economic data…following Friday’s similar reaction…shows that investors are worried that slower growth might be more important to the stock market than the possibility of lower short-term interest rates.

• The most important leadership group is showing a few cracks after a huge run. Will it surprise investors with a pullback? Well, even the best fundamentally driven rallies see pullbacks and corrections sometimes. So, we’ll be watching this group even more closely than usual going forward.