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Technology Stocks : Jimbo's Playhouse/CPQ
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To: Mao II who wrote (3052)7/15/1999 12:54:00 PM
From: Night Writer  Read Replies (1) of 12663
 
M2,
No problem. 30 Year bond price is up. That means the Interest rate is down.
NW

U.S. TRADING SUMMARY: Stocks held their gains in later morning
trading Thursday amid good news about earnings and inflation. At
10:45 a.m. ET, the Dow Jones industrial average was up 48 points
at 11,196. The technology-laden Nasdaq composite index rose eight
to 2826, while the S&P 500 was up 10 at 1409. "The spigot for
earnings is flowing positively," said Alan Ackerman, senior vice
president and market strategist for Fahnestock & Co. "But the real
message of the market is there is some sense that the Fed might
not raise rates in August because of the friendly CPI and PPI
numbers," he said. Financial services shares, which are the
quickest to react to any indication of interest rate changes, took
advantage of the mild CPI number and the bond market rally and
headed higher. The 30-year Treasury was up 4/32 to yield 5.90%.

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