...the Bulls Are Running Again:
-- Profits could soar later this year as tax cuts and lower interest rates boost growth.
-- Share prices, particularly of high-tech companies, have fallen so far they're now a bargain.
-- Consumer confidence has edged up again, raising hopes the economy can avoid a recession.
...the Fed Remains Worried:
-- Pinched margins continue to force many CEOs to cut capital outlays and lay off workers.
-- High-tech companies that spent heavily in the late 1990s are still saddled with excess capacity.
-- Unemployment is rising, and the market slump left many investors poorer. Both could dampen consumer spending.