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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/2/2001 2:40:28 PM
From: besttrader	of 37746

14:30 ET Dow +1, Nasdaq +55, S&P +2.07: [BRIEFING.COM] As Briefing.com anticipated in its 12:30 comment, the tone of market activity has improved markedly since mid-day. Though slightly off the day's best levels, the major indices each trade towards the top end of the day's range. The 2:00 Beige Book release came in largely as expected. All Fed districts reported a slow pace of activity. Weakening industrial activity continues to pull orders and output lower. Early reports note a strengthening in April retail sales and high fuel costs have reduced demand for gas-guzzling vehicles. Wage pressures are abating as the labor market eased in almost all districts. The report noted a "pronounced" high-tech slowdown but indicated improvement in some areas. Half of the districts reported tighter credit standards as the housing sector provides some lift in most districts. This release provides no clear guidance on the May 15 FOMC directive though Briefing.com continues to expect another 50 basis point ease. DJTA +0.5%... DJUA -1.5%... SOX +1.4%... XOI -3.6%... BTK -1.5%... Nasdaq 100 +2.1%... S&P Midcap 400 +0.1%... Russell 2000 +0.1%... NYSE Adv/Dec 1510/1490... Nasdaq Adv/Dec 2252/1528.

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