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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (27129)	9/24/1999 7:58:00 PM
From: Challo Jeregy	Read Replies (1) \| Respond to of 99985

Oh, I could kiss you, Haim!!!!!! but, MO?????? <g> is it Monday yet? . . .

To: Haim R. Branisteanu who wrote (27129)	9/24/1999 10:58:00 PM
From: John Madarasz	Respond to of 99985

Economic Week in Review: September 20–24, 1999 vanguard.com With economic news light, the stock market's sharp decline during the week was variously attributed to worries about inflation, upcoming third-quarter earnings reports, the weakening of the U.S. dollar, and the earthquake in Taiwan. For the week, the S&P 500 Index fell 4.3%, and the yield of the 30-year U.S. Treasury bond fell 8 basis points to 5.96% (as of 4:30 p.m. Friday). Since reaching an all-time high of 1,418.78 points on July 16, the S&P 500 Index has fallen almost 10% into territory generally considered a correction. The nation's trade deficit jumped in July to a record $25.2 billion, as Americans snapped up record levels of imported cars, consumer goods, and capital goods (such as civilian aircraft, computer accessories, and drilling equipment), the Commerce Department reported on Tuesday. A modest rise in exports was more than offset by higher imports, especially from Japan, China, and Western Europe. The nation's regions all continue to show robust economic growth with few signs of accelerating wages and salaries, according to the Beige Book, the Federal Reserve's survey of current economic conditions. The survey, issued Wednesday, indicated that labor markets remained tight during August and September, with a few regional exceptions. Sales of existing single-family homes dropped during August to an annual rate of 5.25 million units, the second monthly decline since setting an all-time record pace of 5.63 million units in June. Analysts said the rising mortgage interest rates had cut into home sales, but overall the housing market remains strong. The number of people filing new claims for unemployment insurance benefits fell to a 25-year low of 272,000 for the week ended September 18. This was a decrease of 17,000 from the previous week's revised total of 289,000. The latest figure was the lowest since January 5, 1974, when claims stood at 269,000. However, analysts said claims may have risen since September 18 as flooding from Hurricane Floyd subsided and more people could get to unemployment offices. The four-week moving average of initial claims, a less-volatile measure of the labor market, fell to 285,800 from a revised 289,000 the week before. Next week will bring a heavy dose of economic reports, including updates on consumer confidence (Tuesday), orders for durable goods (Wednesday), and new-home sales (Thursday). Other key reports due include a final estimate of the nation's gross domestic product for the second quarter (Thursday) and August figures for personal income (Friday). Summary of Major Economic Reports: September 20–24, 1999 Date Report Actual Value Expected Value 30-Year Bond Yield S&P 500 Index September 20 +3 bp +0.01% September 21 U.S. Trade Balance (July) –$25.2 billion –$23.8 billion +2 bp –2.1% September 22 Federal Reserve's Beige Book — — — –0.2% September 23 Initial Jobless Claims (9/18) 272,000 290,000 –9 bp –2.3% September 24 Existing-Home Sales (August) 5.25 million 5.30 million –4 bp –0.2% Weekly Change –8 bp –4.3% bp = basis points. Regards, JM