Wall Street is wilting in the summer heat, with investors increasingly uncertain about an economic and earnings recovery anytime soon. More caution is likely in the coming week with a wave of earnings reports expected that may offers hints on corporate expectations for recovery from recession. In the week to Friday, the Dow Jones Industrial Average declined 1.62 percent to 8,146.52 and the broad-market Standard & Poors 500 index lost 1.93 percent to 879.13, marking four consecutive losing weeks for those indexes. The technology-heavy Nasdaq dropped 2.25 percent over the week to 1,756.03. Auth said the S&P 500 is likely to drift toward the 1,000 level, some 15 percent above current levels, and that the downside is protected by the promise of continued government economic stimulus.
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