Australian Market Report of June 17: Recovery Will Take Time

  Sydney, Australia, June 17, 2009 - (ABN Newswire) - US stocks ended lower overnight as investors realized that an imminent economy rebound was overstated. A worse than expected report on industrial production and US electronics retailer Best Buy's weak sales in its first quarter weighed on the stocks market. US President Barack Obama also said the US unemployment rate will reach 10 per cent this year.  

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