MARKET OUTLOOK An Improved Economic Outlook A quick resolution to the war in Iraq has resulted in an improved outlook for the U.S. economy and has buoyed a dramatic rally in the U.S stock market. Retail sales picked up in May, after declining in April amidst war coverage and a barrage of bad weather in the East and Midwest. Consumer spending continues to fuel whatever modest growth the economy has experienced. The impact of yet another round of mortgage refinancings and lower taxes add to a positive environment for the second half of 2003. Although the jobless rate has edged...