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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: parker_meridian who wrote (52832)	8/8/2001 2:09:16 PM
From: Vitalsigns	Read Replies (1) of 62348

Is this the kind of headlines one would expect to lead a rally ?? Fed says US economy still sluggish in summer WASHINGTON (Reuters) - The U.S. economy remained sluggish in June and July, as the recent slide in the manufacturing sector began to creep into other areas of the economy, the Federal Reserve said Wednesday. "Reports from most Federal Reserve Districts point to slow growth or lateral movement in economic activity in June and July," the Fed said in its anecdotal survey of national economic conditions, also known as the "beige book." Weakness in the factory sector was seen in almost all regions, the central bank said. "Sustained weakness in the manufacturing sector spilled over to other businesses, with many Districts indicating declines in demand for office space and trucking and shipping services," the Fed said. The report, compiled by the Federal Reserve Bank of San Francisco based on information gathered before July 30, will be used by the policy-setting Federal Open Market Committee when it next meets to set interest rates on Aug. 21. The FOMC is widely expected to cut interest rates for a seventh time this year as it attempts to prop up a shaky U.S. economy. The Fed has already cut rates by a total of 2.75 percentage points this year. news.excite.com Looks like its spreading like the plague and hitting all regions and ,most importantly all sectors. Looks like XMas 2001 is gonna be a bust this year for retail. Do you think that the Fed cutting another 25 or 50 basis points off the curent rate of 3.75 % will fix overvaluation problems or have any serious impact on earnings growth over the next 6 months ? I don't think so, all the rate cuts are good for now is to try keep psychological support from going bust , but that going to happen wether the fed cuts or not , just a matter of time. Vitalsigns

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