1:31PM S&P sees declining corporate default rates by Tomi Kilgore
Standard & Poor's believes default rates on corporate debt have peaked and will decline through 2004 due to the U.S. economic recovery. S&P said that although the number of defaults reached a record in the first quarter, the total value of the defaults declined from record levels seen in the same period a year earlier. The firm added that it viewed Argentine defaults as a one-time event.
12:03PM Sungard's Dudack sees downside test for S&P 500 ($SPX) by Tomi Kilgore
Gail Dudack, market strategist at Sungard Institutional Brokerage, sees potential for the S&P 500 Index ($SPX) to test the lower end of its recent trading range -- 1,200 to 950 -- around the middle of the year. She says weakness in the U.S. dollar poses a long-term risk for the stock market, which she believes is still "far from oversold." The S&P 500 is currently down 1.54 points at 1,084.92.
:30AM Stocks could rally for 1-2 weeks: HL's Dickson ($INDU, $COMPQ, $SPX) by Tomi Kilgore
Richard Dickson, technical analyst at Hilliard Lyons, says positive momentum from Wednesday's turnaround could produce a stock market rally lasting one to two weeks, but added that there was "scant technical evidence" to support the idea that the stock market has completed a bottom. He sees near-term upside potential for the Dow industrials ($INDU) at 10,200, for the Nasdaq Composite ($COMPQ) at 1,750 and for the S&P 500 Index ($SPX) at 1,120. Support should come in at 10,000, 1,643 and 1,082, respectively. |
