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Technology Stocks : Ascend Communications (ASND)

ASND 209.43

-0.2%

Dec 23 3:59 PM EST

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To: Joe Sabatini who wrote (37979)	3/6/1998 9:01:00 AM
From: Jurgen	of 61433

Wakeup call TheStreet A modestly stronger jobs report has not shaken the morning's fragile confidence. Even in the face of a couple more tech problems last night, the S&P 500 futures at 8:35 a.m. EST are up 1.30 -- are indicating a positive open. Treasuries, heading higher before the jobs report, have backed off early-morning gains. The February report showed an increase of 310,000 nonfarm payrolls. The unemployment rate eased 0.1% to 4.6%. Consensus expectations had been for nonfarm payrolls to grow by 247,000. The unemployment rate was in line with expectations. Average hourly earnings rose 0.6%, above expectations of a gain of 0.5%. The February news follows a string of strong jobs reports since the Asian economic crisis struck last fall. "Pay no heed," economists have said. "Asia is coming." But an Asian effect still hasn't really shown up in any of the economic reports, and though it likely sometime will, it's pretty tough to keep playing chicken with the data. Shortly after the report, the benchmark 30-year bond is up 4/32 to 100 24/32, the yield at 6.07%.

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