Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 252.25

+0.9%

Nov 28 9:30 AM EST

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To: Sam Citron who wrote (55339)	11/11/2001 10:05:34 PM
From: StanX Long	Read Replies (1) of 70976

Stocks May Drop as Rally Fades Sunday, November 11, 2001 foxnews.com NEW YORK — Stocks may drop this week or tread water as a seven-week rally sparked by hopes for an economic recovery loses steam. The rally was driven by optimism that the federal reserve's big interest rate cuts this year will eventually kick in and produce an economic turn-around. "I would not at all be surprised to see some backing and filling because we have had a good rally," said Robert Baur, head of trading at Invista Capital Management which oversees about $24 billion. Some consolidation "would not be unlikely." The third-quarter earnings season — the most dismal in a decade with a 20 percent decline in profits — is drawing to an end. Still, this week's earnings reports will be from heavyweight retailers Wal-Mart Stores and Home Depot, and marquee tech names like computer chip equipment maker Applied Materials and computer builders Dell Computer and Hewlett-Packard. "The focus of the market place is continuing to be what the outlook for the economy, sales and earnings might be six to 12 month down the road," said Michael Strauss, managing director and senior economist at Commonfund, which manages about $26 billion. "Clearly the aggressive easing by the Federal Reserve and the fiscal stimulus that we have gotten did help the stock market in the last six weeks."

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