Their bets have been consistently wrong
Nothing different this time either
I'd love to see Rob's track record
DOW 8777 now
EDIT- This article looks no different than a typical PR from most companies during the bubble
We hope, expect, anticipate, look forward ...
U.S. stocks slash losses, Nasdaq turns positive
Friday January 10, 10:19 am ET
(Updates to early morning)
NEW YORK, Jan 10 (Reuters) - Stocks pared steep losses on Friday, pushing the tech-loaded Nasdaq into positive ground, as expectations for a stronger 2003 for the market helped offset disappointment over a surprising loss in jobs in December.
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"Investors are looking to midyear and thinking that will be the turn" in the economy and stock market, said Rob Arancio, head of Nasdaq trading for Lehman Brothers. "From a portfolio manager's perspective, if they have some money on the sidelines, they're willing to put it to work."
The blue-chip Dow Jones industrial average (CBOT:^DJI - News) was down 23 points, or 0.27 percent, at 8,751, after losing almost 1 percent shortly after the open. The broader Standard & Poor's 500 Index (CBOE:^SPX - News) was 2 points lower, or 0.27 percent, at 925. The Nasdaq Composite Index (NasdaqSC:^IXIC - News) gained 0.6 of a point, or 0.04 percent, to 1,439.
The already troubled U.S. job market took a turn for the worse in December -- shedding 101,000 jobs in contrast with expectations companies would add jobs, the government said before the open. The jobs drop was the largest since February, when the economy lost 165,000 jobs.
But many investors are betting the fresh year will mark the end of a three-year stock slump. Through Thursday, the Dow is up 5.2 percent for the year, while the S&P 500 has climbed 5.4 percent in the first six sessions of 2003. The Nasdaq has jumped 7.7. (With additional reporting by Chelsea Emery)
biz.yahoo.com |
