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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject5/10/2001 10:08:36 AM
From: besttrader   of 37746
 
10:00 ET Dow +75, Nasdaq +24, S&P +9.09: [BRIEFING.COM] Early strength being driven by a strong performance from the retail and semiconductor sectors... Former group getting a boost from a number of reassuring same-store sales and earnings announcements; whereas the latter is rallying on the heels Morgan Stanley's upgrade of several chip equipment components, including industry leader Applied Materials (AMAT +2.62)... Decision by the ECB to cut rates by 25bp has also been a supportive factor as the move lends some hope that the ECB may be finally getting it in terms of its role in keeping the global economy from slipping into a recession... Separately, Fed Chairman Greenspan is at the Chicago Fed conference this morning and he is holding tight to the topic of bank safety... No insight from him on the economic situation or next week's FOMC meeting... Briefing.com continues to expect another 50 bp ease and further easing at the June meeting... SOX +3.5%... NYSE Adv/Dec 1552/789... Nasdaq Adv/Dec 1863/861.
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