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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject5/31/2001 11:06:10 AM
From: besttrader   of 37746
 
11:00 ET Dow -2, Nasdaq +19, S&P +0.75: [BRIEFING.COM] Market settling back into mixed formation on the heels of some peculiar comments from Dallas Fed President McTeer who thinks we will avoid a recession, but that we are in a situation that can be characterized as a dramatic slowdown... McTeer anticipates that growth in Q2 should be around zero, and that unemployment should rise as our current levels are unsustainable... Although his comments do suggest more easing is warranted, the recognition that unemployment is likely to rise is fueling concerns about the timing of an economic rebound as higher unemployment, and increasing fears about job security, would negatively impact consumer spending... SOX +1.1%... Nasdaq 100 +1.1%... NYSE Adv/Dec 1633/1077... Nasdaq Adv/Dec 1908/1227.
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