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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	6/6/2001 1:35:41 PM
From: besttrader	of 37746

13:30 ET Dow -88, Nasdaq -12, S&P -11.29: [BRIEFING.COM] If anyone was looking for another negative catalyst today Fed Governor Meyer has stepped into the void. Meyer is probably the most influential Fed member outside of Greenspan which makes his comments worth considering. In a speech earlier today, Meyer indicated he sees no signs that U.S. economic growth is reviving, and added that the need to reduce inflation is not as great as before. These comments are quite dovish for Meyer and hint at additional Fed rate cuts. In a further comment, Meyer sounded skeptical regarding optimistic expectations for a quick economic recovery -- here's the key line: "While a recovery along the lines of the consensus forecast is reasonable, I see some downside risks to that outlook." While these comments are not likely to generate a massive turn in today's market, they are worth noting nonetheless. DJTA -0.1%... DJUA -2.1%... SOX +0.4%... XOI -2.1%... BTK -3.1%... Nasdaq 100 -0.3%... S&P Midcap 400 -1.0%... Russell 2000 -0.6%... NYSE Adv/Dec 1199/1730... Nasdaq Adv/Dec 1474/2111.

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