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Quarterly Economic Update 2012 2nd Qtr


After an all-but-flat April and an abysmal May, the Dow managed to advance nicely in June. The blue chips pulled back 2.51% in a quarter filled with major news items – the European Union’s struggle to bail out banks and governments while trying to stave off a Greek exit from the euro, the Supreme Court approval of the bulk of the Affordable Care Act, the Facebook IPO, a drop in oil and retail gas prices and another apparent “soft patch” in the U.S. recovery.