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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: telecomguy who wrote (32347)	2/17/2000 9:13:00 AM
From: Mark Duper	Respond to of 77400

The January Producer Price Index was unchanged, well below expectations for a 0.2% rise. Excluding food and energy prices, the PPI declined 0.2%; the core rate had been expected to rise 0.1%. The news had the S&P 500 futures jumping, and bonds were rising as well. -------------------------------------------------------------------------------- The Treasury market is trading up slightly, supported by a nice gain by the dollar against the yen, ahead of a key economic release and major testimony by Fed Chairman Alan Greenspan. The dollar moved higher against the yen after Moody's Investors Service, the bond rating agency, said it was putting Japan under review for a possible downgrade. Japan lost its top-notch triple-A Moody's rating in November 1998 and is now rated double-A by the agency. But as a source of fascination for the Treasury market, that pales in comparison with today's events. At 8:30 a.m. EST, the Producer Price Index for January comes out. Economists polled by Reuters are looking for a 0.2% gain overall and a 0.1% gain by the core PPI, which excludes food and energy prices. Then, at 10 a.m., Greenspan delivers his semiannual Humphrey-Hawkins testimony on the economy and monetary policy to the House Banking Committee. The semiannual Humphrey-Hawkins speech often is a catalyst for big moves in the Treasury market, in one direction or the other, depending on whether the Fed Chairman thinks interest rates need to be higher or lower in order to keep the economy growing without accelerating inflation. Economic Indicators Also today, the weekly count of initial jobless claims is due out at 8:30 a.m. and the Philadelphia Fed Index comes out at 10 a.m.