Good Morning Margaret,
It does not make sense to panic and get caugt in the fears som amany are displaying. I would resist this at amy cost:
Monday October 27 7:03 AM EST
U.S. stocks ease in London, techs look vulnerable
LONDON, Oct 27 (Reuters) - U.S. shares eased in London on Monday, tracking world markets lower, but trading was thin as investors awaited testimony from Federal Reserve Chairman Alan Greenspan
later this week, along with several economic reports, dealers said.
Technology stocks, which got hammered on Friday, looked vulnerable to a fresh bout of selling today on the back of a bearish article in U.S. financial weekly Barron's, dealers said.
''We've had a lot of lookers in all the techs, but no one has done anything yet,'' said one London
dealer.
He said he expected the sector to lead Wall Street lower today.
December S&P 500 futures fell 8.00 points to 936.00 on Globex at 1130 GMT, dragged down by the global sell off that started in Hong Kong, where the Hang Seng shed another 5.8 percent.
''You've got Asia down hard, European markets down, so I think Wall Street has got to start lower,'' he said.
He said the market also might also be influenced by third quarter results from American Express Co (AXP), due today.
Yet investors are likely to hold off ahead of Greenspan's Congressional testimony on Wednesday and a raft of economic reports, including the employment cost index and orders for durable goods, to be published later this week.
Remain calm and stand firm for the long haul
Best Wishes
Frank |
