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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: JeffA who wrote (62704)	9/26/1999 10:51:00 PM
From: Captain Jack	Read Replies (1) \| Respond to of 90042

New York--Sep 24--Here is an outline of major US events financial markets will watch Sep 27-Oct 1: MARKET FOCUS: It has the potential to be a wild week. The IMF and G7 meetings kick off this weekend, which means high-level officials from around the world will be spouting off all week. The G7 is not expected to agree to help Japan to weaken its surging yen, but even so the markets will be very sensitive to the wording of the G7 comminique and the tone of remarks coming out of the meeting. Traders will have their hands full keeping up with all of the headlines over the course of the week. The stock market's swoon pushed Treasury prices higher late this week, and players say Treasuries can rally more next week if stocks continue to fall. But many participants remain bearish, and argue that the still strong US economy and rising commodities prices mean the market's rally will only be temporary. US stocks will look to build on a late rally as lower bond yields give investors some comfort. Announcements from this weekend's Group of 7 meeting could sway investor sentiment as well. Dollar/yen's direction going forward will depend on the outcome of this weekend's G7 meeting. Some see dollar/yen reaching as low as 102.00 next week. Euro/dollar's outlook is mixed. ECONOMY FOCUS: Analysts expect another round of mixed signals from economic indicators during the last full week before the Fed meets Oct 5. August durable goods orders, due out Wednesday, should fall after surging 3.6% in July. The second revision to Q2 GDP scheduled for release Thursday should confirm the earlier report of a 1.8% increase. But Friday's report on construction spending is forecast to show an upward bounce after dropping in July and consumer spending and income both are expected to show a substantial gain over July's pace. WASHINGTON FOCUS: President Bill Clinton on Monday travels to New Orleans for an education event and will also attend luncheon and dinner events for Democratic Rep. William Jefferson. Clinton will make a statement before leaving for New Orleans, but the White House today would not say what the topic will be. Tuesday, Clinton hosts a religious leaders' breakfast at the White House and meets in the afternoon with Turkish Prime Minister Bulent Ecevit. On Friday and over the weekend, Clinton will attend Democratic fund-raising events in Las Vegas and California; he returns to the White House Sunday or Monday. The US Congress is striving to finish its 13 regular spending bills for fiscal 2000, but has no chance of doing so before the new fiscal year arrives Friday. Consequently, it will pass a short-term spending bill of about 3 weeks duration, which the White House has indicated President Bill Clinton will sign.