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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 248.41

+1.6%

Nov 10 3:59 PM EST

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To: Mark Fowler who wrote (112821)	12/16/2000 12:09:21 AM
From: H James Morris	Read Replies (2) of 164684

Mark, seriously are you thinking recession? >A Labor Department report showing a higher-than-expected inflation reading also surprised Wall Street, which is counting on an interest-rate cut early next year. The Federal Reserve, which sets the nation's monetary policy, previously has cited inflationary pressures as reasons to raise interest rates. Falling costs of apparel and computers kept U.S. consumer prices from accelerating in November, a government report showed, and industrial production fell for a second straight month. The reports confirmed the view among investors that the central bank is likely next week to drop its warning that accelerating inflation poses more of a risk to the economy than sluggish growth. Investors expect the central bank will cut rates at the end of January. The number of companies saying they will not meet fourth-quarter sales or profit forecasts is up 70 percent from the same time last year, to 362 from 213, according to First Call/Thomson Financial. Analysts are now forecasting 7.7 percent profit growth for the companies in the S&P 500 this quarter, down from 15.6 percent as of Oct. 1.

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