Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (277274)	2/13/2004 8:04:39 PM
From: mishedlo	Read Replies (1) of 436258

Did you see this one? Close: The market turned south today under the weight of several items that implied negative implications for the economy... The Trade Balance widened to -$42.5 bln (consensus of -$40.0 bln) - its second largest in a year - as exports fell 0.2% in December... The University of Michigan Consumer Sentiment Index for February also fell short of market expectations - falling to 93.1 in its preliminary reading (consensus of 103.3) - and threw cold water over the indices' initial attempts at rallying at the open... Although the latter development wasn't that disturbing - considering the weak link between consumer spending and sentiment, it was enough to incite a broad-based pullback in stocks... Other developments also prompted traders to lighten positions ahead of the three-day weekend... Reports of a 'mysterious powder' at a New Jersey post office (which later tested negative) and a fire alarm at a Senate Building (prompted by a burnt bagel) were enough for traders to take some profits from the week's strength... As a result, the Nasdaq finished the week with slight losses, and the Dow and S&P 500 ended the week with slight gains...

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