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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID
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To: PSC who wrote (646)4/15/1997 6:06:00 PM
From: Brad C. Dunlap   of 1762
 
Hi PSC, sorry for the abbreviations.CPI=consumer price index,PPI= producer price index, and MM=market maker. Today we had very good news with the report on the CPI index which is a basket of goods that attempts to measure the cost of a specific basket of products for any inflation or deflation on the consumer level over a period of time. The PPI is a similar gauge but is made up of goods on the wholesale level and is designed to measure price increases or decreases on the wholesale level. Its hard to believe that last Fridays PPI which gave a scare of inflation due to tobacco and airplane price increases caused the entire stock mkt to fall significantly in price. Today's report was very important since it showed that once again it appears that inflation is relatively tame and this in return caused interest rates to drop which directly effect the stock mkt. In fact if you were to go back and study the primary bear mkts of this century[1903,1917,1920,1929,1937,1973-74,1987,1990] you will find that they all had one similar characteristic and that is interest rates started to move up which caused stocks to fall. And for the most part the stocks continued to fall until interest rates stop climbing. There are a few exceptions to this statement but for the most part the point is to watch interest rates very closely. This is the reason why todays CPI report was important since any hint of inflation would cause interest rates to move higher which effects the stock mkt and the stock mkt effects Idec.
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