COMMENTS: Checks Keep Bear at Bay
All three networks mentioned the grim statistics on Wall Street in passing. The Dow Jones Industrial Average closed at 11346, down 106 points, and within a tenth of a percentage point of a 20% decline from its all-time high--a statistic that would enable journalists to start using the phrase Bear Market. Jeff Glor of CBS' Early Show offered the glimmer that consumers are faring better than investors, thanks to an infusion of federal tax rebate checks. The government's $78bn fiscal stimulus helped increase personal spending and income in May.
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