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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (2917)	9/22/2000 8:54:59 AM
From: Voltaire	Read Replies (2) \| Respond to of 65232

Folks, this is what we get by being in the great Global Economy. NOW, anyone want to bet on OIL PRICES declining at the same time. Gee, why am I not surprised by all of this - ECB props up ailing euro Euro jumps about 4% after ECB, Bank of Japan and U.S. Fed intervene September 22, 2000: 7:39 a.m. ET LONDON (CNNfn) - The European Central Bank finally stepped in Friday to buy euros to try to prop up the ailing currency, which has lost about a third of its value against the U.S. dollar since it inception in January 1999. The euro jumped almost 4 percent, or 3.32 U.S. cents to 89.42 in midday trading in London. The ECB said its move was backed by the U.S. Federal Reserve, the Bank of Japan and the Bank of England. "The foreign exchange market has been a little disorderly of late, but I'm a bit surprised by the timing -- I wouldn't be surprised if it was because of the Danish referendum," said Bill O'Neill, an investment strategist at HSBC. Asked whether the intervention would be enough to stem the selling tide in the euro, O'Neill added: "These coordinated moves in the currency market tend to be very significant -- at the least it should provide a base for the euro." V

To: Dealer who wrote (2917)	9/22/2000 9:01:04 AM
From: Dealer	Read Replies (1) \| Respond to of 65232

<FONT COLOR=BLUE>MARKET SNAPSHOT--Shares to nosedive as Intel warns Chip behemoth warns of slower sales By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:31 AM ET Sep 22, 2000 NEW YORK (CBS.MW) – The ripple effects of Intel’s sales warning are being felt in markets across the globe. In the U.S., shares are poised for a nosedive at the open. Bellwether Intel announced late Thursday that its third-quarter revenue will fall below its previous expectations due to waning demand in Europe. Intel (INTC) tumbled $11.98, or 19 percent, to $49.50 in Instinet. Among other chip stocks getting hurt, Advanced Micro Devices (AMD) dropped $2.93 below Thursday's official NYSE close to $24.63, Micron Technology (MU) dropped $7 below its NYSE close to $55.50. December S&P 500 futures dropped 25.10 points, or 1.3 percent, pointing to a sharply lower open for shares. Nasdaq futures, meanwhile, tumbled 92.00 points, or 2.4 percent. The beleaguered euro has been cited time and time again during the current pre-announcement season as reason for profit shortfalls. In an attempt to avert further negative repercussions on the global economy due to the euro’s drop, the Federal Reserve, the European Central Bank and Bank of Japan staged a concerted intervention Friday to prop up the euro, propelling the fledgling currency up 3.2 percent against the dollar at 0.8883. Euro/dollar fell as low as 0.8440 on Wednesday. Julie Rannazzisi is markets editor for CBS.MarketWatch.com.