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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: John Carragher who wrote (12565)	8/15/1999 1:19:00 PM
From: James Thompson	Read Replies (1) \| Respond to of 19700

Top Stories: Business and Finance - Bloomberg New York: U.S. stocks may extend last week's rally in the days ahead, investors say, after economic reports eased interest-rate concern. Internet stocks were among the biggest gainers, with the Bloomberg U.S. Internet Index posting its first weekly gain in five weeks. At the ``first sign (tech stocks) are bottoming, people just fall all over them,' said Timothy Stevenson, a money manager for First Union Corp. in Charlotte, which oversees $50 billion. While the index itself climbed 9 percent, some of the biggest gainers reported larger advances. F5 Networks Inc., jumped 70 percent, Audible Inc., gained 43 percent and Ariba Inc. climbed 46 percent. OPEC Makes 90% of Promised Oil Output Cuts in July, Iranian Minister Says Washington: Tuesday's report on the U.S. consumer price index for July may hold the key to when Federal Reserve policy-makers next raise interest rates, and by how much. The CPI is expected to have risen 0.3 percent in July -- mainly reflecting higher energy costs -- after showing no change in June and May, analysts said in a Bloomberg News survey. The core rate of inflation, excluding food and energy, probably rose just 0.2 percent last month. Last Friday, a smaller-than-expected 0.2 percent increase in July's producer price index calmed investors and sent government bond yields lower. Investors concluded the Fed will probably opt for a quarter-point increase in the overnight bank lending rate next week, instead of something larger. Investors are ``saying the Fed is only going to hit us with a billy club -- not a sledge hammer,' said Robert Dederick, an economic consultant at the Northern Trust Co. in Chicago. BNP Wins Control of Paribas, Fails to Get Majority of Societe Generale