Ian: Thanks for the update from briefing.com. IMO, DELL will help power the techs higher this week. Mohan's friend Abby Cohen of Goldman Sachs is quite bullish as well .<GG>!!...FYI...
Regards, Scott
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The Queen of the Bulls Still Stays the Course
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Related Articles 5/16/99
The New York Times: Your Money
For followers of Abby Joseph Cohen, investment strategist at Goldman, Sachs, it probably seems like a reflex reaction. Bad news prompts a market selloff. Ms. Cohen, a perennial bull, tells investors not to fret.
It happened again on Friday as the Dow Jones industrial average lost 193.87 points on the news that the Consumer Price Index rose an unexpectedly sharp 0.7 percent last month, fueling inflation fears. Speaking at a Goldman, Sachs conference, Ms. Cohen said the concerns were overdone.
"We don't believe we are on the cusp of an increase in inflation," she said, adding that excess capacity in many industries and stable commodity prices will temper price increases.
The Standard & Poor's 500-stock index is in a trading range of 1,300 to 1,350, and it may get a boost as companies report second-quarter profits, Ms. Cohen said. "The direction of the S&P will be higher," she said.
Ms. Cohen added that she didn't expect a "significant spike" in interest rates. For the year, she said, inflation will be 1.5 percent to 2 percent. (Bloomberg News)>> |
