Going nowhere: Economy struggles to find footing
Dow up for first time in nine days; investors still worry about long-term health of economy
A trader work on the floor of the New York Stock Exchange on Wednesday, Aug. 3, 2011, in New York. With no clear sign of what will invigorate growth, there is mounting fear on Wall Street that the U.S. risks sliding into a long-term economic coma. (AP Photo/Jin Lee)
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WASHINGTON (AP) -- Shoppers won't shop. Companies won't hire. The government won't spend on economic stimulus -- it's cutting instead. And the Federal Reserve is reluctant to do anything more.
Without much to invigorate growth, the economy may be in danger of slipping into a stupor like the one Japan has failed to shake off for more than a decade. And Wall Street is spooked.
The Dow Jones industrial average Wednesday barely broke an eight-day losing streak, finishing up about 30 points. A nine-day losing streak would have been the Dow's first since February 1978.
Even with the gain, the Dow has fallen 828 points, or 6.5 percent, over the past nine trading days. Investors didn't even pause to celebrate the resolution over the weekend of a dangerous debt standoff in Washington.
