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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (6295)7/27/2000 9:17:58 AM
From: Defrocked  Read Replies (1) of 436258
 
The ECI wasn't all that rosy: benefit costs,
running at a 5.3% clip, are now growing twice
as fast as they did in '99. The key concern
for the Fed is labor cost pressure. I remain
quite cautious on the July employment number
due to the seasonal adjustment factors which should
begin to surprise the market negatively as
opposed to the May and June releases. The
10% durable goods increase for June and the
upward revision to the prior month may indicate
that Fed tightening moves,which were never surprises and
only followed the market, have yet to run their course.

The technical action exhibited lately by stocks is
horrible. Supposedly bullet-proof portfolio favorites
like DELL,LU,NOK have dropped 20 percent or more.
The list of good performers keeps shrinking. And the
market overall is not responding as in the past to
good news or even bad news.

BWDIK.
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