Gene,
Here is some more confusion. Now QCOM is warning about the future, you know, their whole future as we know it, it is now questionable! LOL!!
Sunday January 30, 2:27 pm Eastern Time
WALL ST WEEK AHEAD - Groundhog Day is D-day for rates
By Eric Wahlgren
NEW YORK, Jan 30 (Reuters) - The big question on Wall Street this week: Will inflation czar Federal Reserve Chairman Alan Greenspan see his shadow on Groundhog Day?
With a key meeting on interest rates ending on the day honoring the buck-toothed harbinger of winter's duration, stock investors may get an idea of just how long the chill will last in terms of borrowing-cost hikes.
A consensus has emerged among Wall Streeters that the central bank's rate-setting committee on Wednesday will opt only for a mellow quarter of a percentage point increase to cool the sizzling U.S. economy.
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The technology-rich Nasdaq composite index (^IXIC - news), meanwhile, ended down about 347 points for the week at 3,887.07, placing it also more than 8 percent off its closing high of 4,235.40 of Jan. 21.
By Thursday of last week, 66 percent of the 291 companies in the 500-strong S&P index that have reported so far had topped Wall Street's expectations.
But warnings about the future from Nasdaq stars such as a Dell Computer Corp. (NasdaqNM:DELL - news) and Qualcomm Inc. (NasdaqNM:QCOM - news) have cast some doubt on the sky-high valuations of technology companies. |
