I think investors are somewhat nervous about the economic data coming out. Once investors do become more convinced that we are near the end of the rising interest rate cycle, the market will turn around.

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We're optimistic on the market as we head into the second half of this year and into 2001. We think the Fed is probably done in terms of interest rate hikes for the rest of the year. At most, we could see another 25 to 50 points [in] hikes. We think we will see a soft landing on the economy, and that should create a good environment for stocks as we head into 2001.

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