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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: John Paquet who wrote (50263)	6/17/2001 10:03:23 PM
From: Rocket Red	Read Replies (1) of 62348

Jun 17 5:17pm ET By Elizabeth Lazarowitz NEW YORK (Reuters) - Wall Street is in for more pummeling this week with no relief in sight from the steady drone of corporate profit warnings and signs the U.S. economy is sputtering. The Nasdaq market had its worst week of the year last week as a barrage of companies announced they were still feeling the pinch from the economic downturn, raising fears it may take even longer than expected to turn profits around, and analysts say there is probably more to come. "Companies like Cisco might come out and warn again for the nth time," said Stanley Nabi, managing director at Credit Suisse Asset Management, which oversees about $110 billion. Worries about more bad earnings news and doubts about economic recovery will cast a pall over Wall Street for at least the next two weeks until the corporate confession season -- when companies fess up to weaker profits -- winds down, Nabi said. "Three or four weeks ago, the perception was that in the second quarter we would have seen the worst, but what I think is likely to happen is the third quarter will be bad, also," he added.

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