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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (28812)	9/15/1999 6:33:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

The greenback strengthened somewhat against the yen after the Japanese central bank intervened to soften its currency overnight. Yesterday, the yenfirmed to a three-year high against the dollar because of signs of a recovery inthe Japanese economy. Japan's government is afraid a strong yen could killoff the nascent recovery by hurting exports. A strong yen is the Japanese stockmarket's greatest fear. But today's intervention won't change anything in thelong term. The fundamentals remain the same, and interventions rarely have any lasting effect. The perception among most economists now is that the U.S. economy isgrowing at a slower pace while the rest of the world is finally beginning to shakeout of the financial crisis that has depressed much of emerging markets for the past two years.Tech stocks to watch National Semiconductor rose in European trading after the chipmakersaid its first-quarter loss from operations narrowed to 1 cent a share in the last quarter, down from a 63 cent loss a year ago. Analysts had expected a 14 centloss, according to First Call. National Semi's bottom line was bolstered by an improvement in sales of chips for mobile phones, communications equipment and television set-top boxes. Intuit (nasdaq: INTU) is likely to be another actively traded stocktoday after the maker of personal-finance software said it would split its stock 3-for-1, effective Sept. 30, to shareholders as of Sept. 20. A slew of technology stocks that were added to Merrill Lynch's new "topstock" lists rose in European trading. International Business Machines (nyse:IBM), Oracle (nasdaq: ORCL) and Texas Instruments (nyse: TXN) appeared on both Merrill's "Top 10 Tech List'' of computer-related stocks and the "Favored 15List,'' which consists of companies with higher-than-consensus earnings estimates and"buy'' recommendations from Merrill analysts.

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