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To: H James Morris who wrote (71522)	8/3/1999 1:35:00 PM
From: Radim Parchansky	Respond to of 164684

Earnings While a growing economy can spur inflation and cause the Fed to raise interest rates, strong economic growth also drives corporate profits. Second-quarter earnings from companies in the S&P 500 have grown an average 14.5 percent, the highest rate since the first quarter of 1997, according to First Call Corp., with 86 percent of companies having reported. First Call expects 21 percent growth in both the third and fourth quarters and 16.6 percent growth for the year. Today's index flip-flops are part of ''the month-long tug of war between higher interest rates versus favorable corporate profits,'' Sowerby said. ''This is more likely a buying opportunity for investors than a sign of troubling times to come.'' full report:http://www.bloomberg.com/bbn/snapshot.html