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Technology Stocks : America On-Line (AOL)
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To: Robert Rose who wrote (15361)5/7/1999 7:31:00 AM
From: Steeny   of 41369
 
"why is it that these unemployment numbers, just figures out of thousands, are taking on such great importance now??"

High PE stocks like AOL depend partly on low interest rates to maintain growth. The theory is that they need to borrow cash to upgrade their infrastructure in developing markets. High pe tech stocks, especially inetrnet stocks are short on cash, long on growth. The unemployment # is one of the main indicators the Fed uses to decide whether to raise rates. Recently, the Fed has been grumbling a bit more than ususal about the recovery of Asia, rising consumer prices, etc. Bond yields have been rising. Today's # is more important than usual.
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