"NASDAQ is holding up with YHOO, AMZN, DELL, and MSFT"
Yes, but everything else is going down. As far as I can tell this is driven by corporate news. On the plus side, good earnings from Dell and Lycos, new business plans at MSFT.
On the minus side, a price war between online brokerages. E-trade now charges only $4.95 per trade! This fits with what many are saying: the internet will grow, but it may never be very profitable.
Retail/consumer goods are in trouble, especially high-end ones, for example Saks and Estee Lauder. J6P's credit card is maxxed out.
Coca-Cola just sold their British bottling division to a Greek company. This is just a year after they launched it with a much-hyped IPO! As I mentioned before, banks are selling their property assets. Attempts to prop up a sagging bottom line?
Okay, a few examples don't prove anything, but I wonder if the consumer spending boom is passing its peak.
Fun-da-Mental |
