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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: kathyh who wrote (65847)	10/15/1999 8:14:00 AM
From: stan s.	Respond to of 90042

Good morning Kathy...Dow seen falling steeply after Greenspan remarks LONDON, Oct 15 (Reuters) - U.S. stocks were expected to drop sharply on Friday after Federal Reserve Chairman Alan Greenspan hit investors' nerves by advising banks to set aside more money as insurance against a big financial market downturn. Dealers said key producer prices data due at 1230 GMT were also a key consideration for the market. A stronger than expected figure would damage sentiment further, they said. The closely-watched December S&P 500 index traded some 17.3 points below its estimated fair value of 1,294.3 by 1119 GMT, indicating an opening fall of around 150 points by the Dow. Major U.S. stocks traded in Europe slipped on the back of the Greenspan comments, with IBM (NYSE:IBM - news) (quote from Yahoo! UK & Ireland: IBM.F) falling $1/2 to around $106-3/8 and Microsoft Corp (NasdaqNM:MSFT - news) shedding $7/16 to about $90-1/4. ''The way the (S&P) futures are looking, most stocks are going to be opening lower,'' said a London dealer. One exception was Sun Microsystems Inc (NasdaqNM:SUNW - news) which rose around $1-7/8 to $91-1/4 after the group reported better-than-expected first quarter earnings. (Note: this article is ''in progress''; there will likely be an update soon.)