Not so long ago, layoffs were concentrated in a few weak sectors: manufacturing, construction, and later mortgage lending.
When selling is isolated and weak sectors drag the market down, it can be considered a buying opportunity for strong stocks.
The view isn't surprising given the other weak data reported in economic sectors from manufacturing to retailing.
In particular, UBS noted concerns that there could be trouble looming for chip companies with big exposure to the consumer electronics, PC and auto sectors, given weak spending trends.
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In particular, fragile financial sectors and companies' weak balance sheets will make monetary policy less effective.
The Fed minutes are only part of the equation though, as you saw weak earnings in a few key sectors lead to potent sell-offs.
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We've got a couple of sectors in our economy that are still weak.
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The poll of about 200 firms in five sectors found expectations for the second quarter remained weak.
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Most growth sectors have strong exports--given a boost by the weak greenback--but they also tend to require capital and skilled labor that developing-nation manufacturers can't muster.
The report said that towns and cities with less dynamic private sectors, such as Hull, Doncaster and Newport, would find it more challenging to offset the weak national economy and the ongoing shrinkage of the public sector.
Ms Harney recently took delivery of a new report on enterprise strategy by a committee chaired by Eoin O'Driscoll, managing director of Aderra, which argues not only for more emphasis on high-value-added sectors and scientific research but also for greater efforts in marketing and promotion, in which Ireland has been weak.
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