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

To: Les H who wrote (33653)	11/18/1999 10:00:00 AM
From: Lucretius	Read Replies (1) \| Respond to of 99985

i love it

To: Les H who wrote (33653)	11/18/1999 10:42:00 AM
From: Les H	Read Replies (1) \| Respond to of 99985

US SEPT TRADE DEFICIT -$24.4 BLN, AS EXPECTED; OIL IMPORTS UP By Joseph Plocek WASHINGTON (MktNews) - The U.S. September trade balance came in at -$24.4 billion, about as expected, reflecting higher oil imports and a continuing trade imbalance with Asia as the U.S. receives imports. The trade result may have limited impact, since the median estimate in a Market News International poll of economists was for a -$24.6 billion result. Moreover, higher oil prices are well discounted in financial markets and the recent China trade accord should work to open trade with the area. U.S. exports dropped $0.7 billion in September as aircraft fell $1.3 billion. Boeing Co. reported it shipped seven fewer planes in fulfillment of overseas orders. Auto and related exports fell $0.5 billion, but non-monetary gold was up $0.6 billion. Most commodity exports increased. Imports rose $0.1 billion, mainly reflecting a $0.6 billion surge in oil imports, as the unit price of a barrel of oil jumped $1.72, or almost 10%, to $19.52. Imported oil costs were last higher at $20.48 on average in February 1997. There was an import offset as autos fell $0.4 billion as sales cooled. The Commerce Department noted the September oil deficit increased for a third consecutive month, to $6.2 billion, the worst since -$6.4 billion in December 1996. Oil pushed imports of industrial supplies to a record $20.3 billion. The services surplus narrowed $0.4 billion as exports fell and imports gained on the back of higher travel costs. Area imbalances remained about the same. The trade deficit with Japan was -$6.6 billion, versus -$6.4 billion in August; with China it was a still-record -$6.9 billion, unchanged from -$6.9 billion in August; and with OPEC it was -$3 billion, versus -$2.7 billion. One enduring driver of the trade deficit is imports, which set records in September with China, OPEC, Mexico, and Central and South America. Increasing imports from the latter areas are probably due to oil prices. But trade with China continues to center on apparel and small consumer goods, including computers, toys and appliances, reflecting huge consumer demand in a booming economy for well-priced household goods.