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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/11/2001 10:21:24 AM
From: besttrader	Read Replies (1) of 37746

10:05 ET Dow -22, Nasdaq +5, S&P +0.71: [BRIEFING.COM] Traders got a jump on the University of Michigan Sentiment reading for May as the number was released early. May's number was reported at 92.6% which is well above the consensus of 88.5% and the prior month number of 88.4%. The markets are mixed on this report as the data cuts in two directions. Those rooting for a stronger economy like the number as it suggests a more confident consumer may be capable of spending the economy out of its recent slump. Investors pulling for additional interest rate cuts are disappointed with the data. The next FOMC policy announcement is due on Tuesday and some will contend this morning's batch of economic data reduces the prospects for a 50 basis point rate cut. DJTA +0.4%... DJUA +0.3%... SOX +1.4%... XOI +1.2%... BTK +0.7%... Nasdaq 100 +1.1%... S&P Midcap 400 +0.2%... Russell 2000 +0.2%... NYSE Adv/Dec 1382/949... Nasdaq Adv/Dec 1463/1291.

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