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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (523721)1/14/2004 8:00:17 AM
From: JakeStraw  Read Replies (1) of 769667
 
Weak Dollar Has Upside For Tech, Energy And Industrials

By Karen Talley
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--The dollar's 20% drop in 2003 should be beneficial to the fourth-quarter earnings of sectors led by technology, energy, basic materials, industrials and banking.

It all depends on how much business a group does outside of this country. Because of the weaker dollar, U.S. goods sell for less abroad, which makes them more appealing to foreign buyers. The more sales a company has, the greater the chance that capital finds its way to the bottom line, so the dollar's impact on fourth quarter revenue is being closely watched.

Technology leads the pack, analysts say. Steve Milunovich, chief technology analyst at Merrill Lynch & Co., says that the weak dollar - it currently trades at 1.2765 euros - will add between 5% and 8% on average to revenue for information technology hardware vendors in the fourth quarter compared with a year ago.
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