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Technology Stocks : Semi Equipment Analysis

SOXX 288.52

-0.3%

Nov 14 4:00 PM EST

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To: Sarmad Y. Hermiz who wrote (12395)	11/6/2003 5:25:57 PM
From: Donald Wennerstrom	Read Replies (3) of 95420

Based on our discussion last night, I thought the following input from Briefing.com at 3:00pm today was interesting - a comment having to do with raising interest rates. <<15:00 ET Dow -2, Nasdaq +8, S&P +1.72: [BRIEFING.COM] Equity market drifts lower without strong follow-through from buyers... The major indices are now back to trading around the unchanged mark as yesterday's highs have proved to be formidable resistance points... Valuation concerns have overshadowed today's mostly upbeat earnings and economic reports... Jobless claims for the week of November 1, specifically, fell an impressive 43K, to 348K - their lowest level in 34 months... The sharp drop that brought the 4-week moving average to 380K has indicated to some that the labor market is unequivocally strengthening... While normally a supportive factor to the stock market, the news has suggested today that the Fed might be that much closer to raising interest rates - something that has been in the spotlight this week with the Bank of England and Reserve Bank of Australia's 25 basis point hikes... NYSE Adv/Dec 1608/1594... Nasdaq Adv/Dec 1553/1528.>> We have a situation where any "good news" brings out fear that the Fed will hike interest rates sooner than later. Don

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