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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: SJS who wrote (9793)	4/27/2000 8:56:00 AM
From: SJS	Read Replies (1) \| Respond to of 24042

Guess they weren't that friendly, huh? Back to the dungeon today. NAZ futures are down 110. Limit down is 110. Dow Futures are down 228. S&P futures are down 34. It's becoming pretty clear that we're now going to see 3 or more rate increases, and there is growing concensus that folks want a 50 bp raise in May to slow this train. What really croaked this was the ECI report. With all the renogotiated wage contract recently completed, and the attempt by companies to keep employees (witness the MSFT stock deal for their employees....) this has put upward pressure on wage inflation again, and that's what you saw in today's number. The reaction of the futures and the bond market were expected with these types of numbers. The only silver lining is that bad numbers like this may force a rotation from the old economy stocks back into tech, but who knows. First hour will be rough, but just remember the companies that are delivering good number (great numbers) and good guidance. Steve