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To: Catcher who wrote (141845)	9/10/1999 9:22:00 AM
From: TRCM	Respond to of 176387

Catcher - Re PPI Expectations PPi came out up .5 and ex Food and Energy (Core PPI) was -.1...Expectations were for up .3 and up .1....so although the headline number was stronger, the core was soft which has given the markets a nice boost. Expect some concern going in to CPI on Wednesday, but all in all it's a great number...Only concerns are over crude, which continues to push higher, but that isn't new news...All analyst comments I've heard this a.m are bullish, and view the Fed as on hold through the next FOMC meeting in October. Go DELL!

To: Catcher who wrote (141845)	9/10/1999 9:23:00 AM
From: Mark Duper	Respond to of 176387

Core PPI Falls Short of Expectations, Lifting Stocks By Thomas Lepri Staff Reporter 9/10/99 8:39 AM ET A softer-than-expected core Producer Price Index has stocks poised to go higher this morning. Increased energy prices helped drive the headline PPI up 0.5% in August, exceeding the 0.3% increase forecast by economists polled by Reuters. But the core rate, which excludes food and energy costs, unexpectedly declined by 0.1%. Economists had expected a 0.1% gain. Stock futures and bonds were higher on the news. At 8:35 a.m., the S&P 500 futures were up 9.2, about 5 points above fair value and indicating a hop at the open. The 30-year Treasury was up 14/32 to 100 29/32, its yield falling to 6.059%. The market needed this sort of reassurance from the core rate, despite the growing conventional wisdom that rates aren't going any higher this year -- 23 of the 30 primary dealers of government debt polled by Reuters think the Fed won't move until 2000. Since the Aug. 24 rate hike, weakness in Treasuries and financial stocks, along with the strength of energy stocks, suggests that investors are still very nervous about inflation.