Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (85748)	11/30/1999 5:01:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

William: 2 points -- I assumed you were referring to today's economic data from the Chicago purchasing Manager's Index which indicates a growing economy, not data concerning October released on Nov. 23rd (and BTW, bonds sold off after that report was released). Second, good point, you are right about the declines -- but do you really find this meaningful? Did you notice the strong consumer data out today? The purchasing managers report today and expected tomorrow conflict with the 'declining' output data. What do you expect on Friday? Higher unemployment? Benign labor data? Did you see the price data in the purchasing managers report? Hardly a sign of a slow down. BTW, AMZN did not look so good today. The poor performance of the NBC net spin-off made some money for me in my 'short GE' account.

To: Bill Harmond who wrote (85748)	11/30/1999 5:05:00 PM
From: GST	Read Replies (2) \| Respond to of 164684

Consumer confidence surges in Nov. Chicago PMI prices paid index leaps to 70.9 By Rex Nutting, CBS MarketWatch Last Update: 1:31 PM ET Nov 30, 1999 Bond Report NEW YORK (CBS.MW) -- Consumer confidence jumped in November as Americans became more optimistic about the economy next spring, the Conference Board said Tuesday. The board's Consumer Confidence Index rose to 135.8 in November from 130.5 in October after four months of declining confidence. See full release. The index measuring the outlook for the economy in six months rose to 109.6 from 101.5 in October. The current situation index also rose to 175.3 from 173.9 in October. In a separate report, the Chicago Purchasing Management Index fell to 56.8 in November from 58.8 in October. However, the prices paid index jumped over the psychologically significant 70 percent level to 70.9. The National Association of Purchasing Management will report on its national index for November on Wednesday. Economists expect the NAPM index to be about even at 56.8. See Economic Forecast. The yield ($TYX: news, msgs) on the 30-year Treasury bond was essentially unchanged at 6.29 percent. See Bond Report. The Federal Reserve has tried to deflate consumer spending by raising overnight interest rates three times in the past five months, but to no avail so far. "The strong rebound in consumer confidence will set the Fed on alert," said economist Sophia Koropeckyi of Dismal Sciences. "A booming economy and a strong job market have consumers in a confident, free-spending mode," said Lynn Franco, head of consumer research for the private Conference Board. "This is reflected in robust retail spending both online and in person." The higher interest rates may be slowing spending on big ticket items, such as homes, autos and furniture. The survey showed that only 3.3 percent of consumers plan to buy a home in the next six months, down from 4.3 percent a month ago. Plans to buy autos fell from 9.5 percent to 7.8 percent, and plans for major appliance purchases dropped from 30.9 percent to 27.2 percent. Consumers still have lots of confidence in the economy. Nearly 28 percent expect their incomes to rise in the next six months, giving a boost to all kinds of spending. Only 5.5 percent believe the economy will worsen in the next six months. "It's not surprising that $4,000 leather bags and $3,000 cashmere coats are selling briskly, along with $15 Pokemon toys and $25 computer mouses," Franco said. The Street had expected consumer confidence to rise to about 133 in November.