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Technology Stocks : CMGI What is the latest news on this stock?
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To: bargainman who wrote (7670)4/28/1999 1:02:00 PM
From: Jenne   of 19700
 
Jun NASDAQ Sinks Limit; Cohen Bullish
Futures World News - April 28, 1999 12:59


Chicago-April 28-Bridge News--IMM Jun NASDAQ futures
sank their 50-point limit and were hovering near it after
halting trade briefly. The next limit comes in at 100 index
points.
Meanwhile, Goldman Sachs' Abby Cohen was doing her part
to talk up the market, saying the US stock market was near
fairly valued, based on earnings growth expectations and
subdued US inflation.
She said the broadening of the stock market was a
reflection of consumer confidence, and recent US economic
data were encouraging. Cohen was speaking at a conference in
Washington organized by the Economic Strategy Institute.
CME traders noted futures volume was light on the sell
off, with hedge funds actually better buyers and locals
short. Support for Jun S&P 500 was put at 1358.00. Jun S&P
500 was last down 8.50 at 1368.00, with the best sellers
including Goldman Sachs, Morgan Stanley and Merrill
Lynch.
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