(Smart Money) – GOOD MORNING. Stocks in Asia closed mostly lower today, European shares are mixed, and U.S. futures are pointing to a higher open. After Tuesday’s trading session, which left stocks at their lowest level for the year, Wall Street today will focus on whether it can regain any of the losses. The S&P 500 Index has edged back down to its November 2009 level and the Dow Jones Industrial average is more than 12% lower from its 52-week peak of 11,309. The concern now is that the market isn’t necessarily enduring a correction off its 2009 highs but that it instead might be signaling the beginning of another recession. The market drop is likely a result of weak U.S. economic data, including waning consumer confidence and relatively static new job growth. At this point, the question for the stock market and the U.S. economy is whether they’ve reached a standstill and if so, then what’s next.
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