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NEW YORK With consumer confidence at a 16-year low, one Merrill Lynch analyst predicts cable stocks will see a boon as U.S. consumers start to cocoon and become bigger couch potatoes. He also suggests that the box-office could suffer accordingly.
The Conference Board’s consumer sentiment index for May this week showed a worse-than-projected decline to the lowest level since 1992 amid the continuing housing slump and higher food and gas prices. Consumer sentiment is key for the outlook of the U.S.
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