The Conference Board Leading Economic Index for the U.S. increased 0.5% in July to 115.8, suggesting that the economy is poised for "modest" growth through the end of the year.

The data, which is culled from a variety of components including manufacturers' new orders, new unemployment claims, stock prices and consumer expectations, concludes that despite rising volatility on Wall Street and anxiety on Main Street, the economy expand -- albeit slightly -- for the next four months.

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