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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (9907)	11/16/1999 5:58:00 PM
From: Justa Werkenstiff	Read Replies (3) \| Respond to of 15132

Wally: Re: "Will Scrooge be back on 21 Dec., if upcoming econ. reports show inflation developing, productivity slowing & tight labor continuing..." I doubt it unless numbers are really bad. But that will not prevent the markets from discounting a move at some point in the future. Hey, they might not tighten but nobody has said that they would not go to a tightening bias then. Market is on crack here -- mainly the NASDAQ. Looks like the market missed the meaning of the discount rate hike today. I saw that as a clear shot across the market's bow. It was not about inflation so much today as it was about unsustainable growth. So if the growth continues, they should be back or at least the market will become concerned that they will come back at some point.

To: Wally Mastroly who wrote (9907)	11/17/1999 8:37:00 AM
From: Wally Mastroly	Respond to of 15132

CPI in line (but oil going higher...)/ see EDITS: 8:34 a ET Consumer prices rose 0.2 percent in October and at the same rate excluding often volatile food and energy prices, the government said Wednesday, both matching analysts' forecasts. ...meanwhile... Crude oil nears 3-year high LONDON - Crude oil rose near a three-year high after U.S. inventories dropped more than expected, leaving supplies 10% less than in April, when exporters slashed output to end a glut. Crude oil for January settlement gained as much as 41 cents, or 1.7%, to $24.95 a barrel on the International Petroleum Exchange, more than double the price a year ago after the Organization of Petroleum Exporting Countries reduced production, forcing refiners to drain storage tanks. Crude oil supplies last week fell by 2.49 million or 0.8% to 309 million barrels, the American Petroleum Institute said Tuesday. Analysts expected a drop on average of 1.1 million to 1.9 million barrels, a Bloomberg survey said. Oil prices rose in the USA, with crude oil for December delivery on the New York Mercantile Exchange up 39 cents at $26.09 in electronic trading. A rise above $26.80 in New York will leave prices at their highest level since the 1990-91 Gulf War, when crude touched $41.15 a barrel. - CPI - Little more detail: Consumer prices rise slightly in October WASHINGTON - Consumer inflation rose a slim 0.2% in October, the best showing in four months, as gasoline and other energy prices fell. The Labor Department reported Wednesday that the small advance in its Consumer Price Index, one of the most closely watched inflation gauge, followed a modest 0.4% rise in September. It was the smallest increase since June, when consumer prices were unchanged, and was in line with most analysts' expectations. So far this year, consumer prices have been rising at an annual rate of 2.8%, compared with a 1.6% increase in 1998, but all of the acceleration has reflected higher energy costs. Outside the volatile food and energy sectors, prices were up by 0.2% leaving the core rate of inflation rising at a much more moderate 1.9% so far this year. The monthly gain in the core rate matched many analysts' forecasts.