Russian Crisis - Is it a buying opportunity? Message Board

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Strategies & Market Trends : Russian Crisis - Is it a buying opportunity?

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To: Gary Walker who wrote (172)	9/8/1998 9:06:00 AM
From: Jeffrey L. Henken	of 175

Dow set for triple-digit gain on rate cut hopes By Marjorie Olster NEW YORK, Sept 8 (Reuters) - The Dow industrials were poised for a triple-digit gain at the open of trade Tuesday on growing hopes for a U.S. rate cut. The market will register its first reaction to Federal Reserve Board Chairman Alan Greenspan's speech after the close Friday which many analysts saw as leaving the door open to a rate cut. The U.S. market was closed Monday for a holiday. ''Investors are beginning to be a little more confident the central bank will take action to stem the spread of deflation,'' said Westfalia Investments Research Director Peter Cardillo. ''The central bank needs to take action to ease the pain in the emerging markets,'' Cardillo added. At 0804 EDT/1204 GMT, September S&P futures were up 23 points on Globex and Dow Jones futures were indicating a more than 150 point rise at the start of trade. Although he did not directly comment on U.S. interest rate policy Friday, Greenspan said this was a time for caution. ''It is just not credible that the United States can remain an oasis of prosperity unaffected by a world that is experiencing greatly increased stress,'' the Fed chief told an academic conference at the University of California, Berkeley. biz.yahoo.com InvestRight Regards, Jeff

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