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Non-Tech : ICICI Ltd - (Nyse: IC) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (304)	3/3/2000 9:21:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 494

INSTANT VIEW -Feb. jobs report to stoke stocks NEW YORK, March 3 (Reuters) - The U.S. February jobs report detailed a weakening labor market Friday, with below-expectation job creation and a rise in the unemployment rate giving investors a reason to buy stocks. The U.S. Labor Department announced an 43,000 increase in non-farm jobs last month, with the unemployment rate coming in at 4.1 percent. Analysts expected 206,000 new jobs last month, and the jobless rate to remain unchanged at 4.0 percent. The following are market strategist comments on the data: ARTHUR HOGAN, CHIEF MARKET ANALYST AT JEFFERIES & CO. -- ``This is very, very bullish. We're going to have to put on our spacesuits because we are going to the moon. This is all good.' HUGH JOHNSON, CHIEF INVESTMENT OFFICER, FIRST ALBANY CORP, ALBANY, N.Y. -- "It's a very substantial surprise. Obviously a lot fewer jobs were created than had been expected by every economist. I take this to be very good news. -- ``It's the first sign that the economy is slowing to a much more sustainable pace. It does not mean the Fed will not raise short-term interest rate in March. Another employment report this soft would reduce the need for the Fed to raise rates in May. I think it's very positive for the markets.' WILLIAM CHENEY, CHIEF ECONOMIST FOR JOHN HANCOCK FUNDS --``Those are the kinds of numbers that will warm (Federal Reserve Bank Chairman) Alan Greenspan's heart. We're still in this mode of seeing no wage inflation and if you don't see inflation coming from wages, there's really no other place you're going to see it from because oil prices aren't going to rise another 20 percent.' -- ``Essentially this report is saying no inflation. Maybe the economy is cooling off. But it's just one month and a short month at that. February is generally a funny month. This is -- 'It's everything heading in the direction that Greenspan wants it to."