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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: zonder who wrote (3555)	4/5/2004 10:44:57 AM
From: mishedlo	Read Replies (1) of 116555

UBS lowers stock weighting to 60% from 70% By Tomi Kilgore NEW YORK -- UBS lowered its recommended weighting of stocks to 60 percent from 70 percent, given the "bad news" embedded in the March employment numbers and valuation. The firm raised its cash weighting to 20 percent from 10 percent and kept its bond weighting at 20 percent. U.S. equity strategist Gary Gordon said the strong March employment data was a net negative for stocks, as the "bad news" of higher interest rates outweighs the "good news" of more jobs. In addition, the potential upside to his 1,200 fair market value for the S&P 500 Index ($SPX) suggests only "normal" returns. The S&P 500 was last up 4 points at 1,145.

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