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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject5/31/2001 10:31:14 AM
From: besttrader   of 37746
 
10:30 ET Dow +12, Nasdaq +30, S&P +3.13: [BRIEFING.COM] The Chicago PMI edged 0.2% lower in May to 38.7%, which was below the 40% consensus expectation, and indicative of the fact that the manufacturing heavy region continues to struggle... Separately, the Help Wanted Index dropped to 65 in April from an upwardly revised 67 in March-- well below an 89 level a year ago... Market digested these reports in pretty decent fashion, but buying interest has tapered off a bit as both reports denote a weakening economy... By the same token, though, they have done little to alter the expectation that the Fed will continue to ease at its June FOMC meeting... Blue chip pullback being paced by drug, oil service and restaurant stocks... NYSE Adv/Dec 1618/976... Nasdaq Adv/Dec 1956/1056.
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