Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: bearshark who wrote (15425)	3/31/1998 9:14:00 PM
From: posthumousone	Read Replies (1) of 94695

First Call cuts S&P500 Q1 profit growth to 0.7 pct Tuesday March 31, 2:57 pm Eastern Time NEW YORK, March 31 (Reuters) - First Call said its first quarter earnings growth forecast for the S&P500 companies has been cut to 0.7 percent over the same quarter last year. ''This is the lowest we have seen probably since 1990,'' said Chuck Hill, First Call's director of research. The forecast has been steadily cut back from above 10 percent at the start of January. The second quarter growth forecast has been lowered to 6.7 percent from 12.9 percent in early January. The forecast for 1998 as a whole is for growth of 9.7 percent compared with about 10.5 to 11 percent in 1997. S&P500 earnings in the fourth quarter of last year grew by about 8.5 percent, First Call said. Hmmmmmm, will market react to this? what about japan failing to reach 18,000 and dropping 200 points in first 18 min of trading????

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