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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Pete Young who wrote (38759)	10/25/2000 3:03:07 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 70976

Ah at last something ON TOPIC! I'd say it is somewhat bullish for AMAT, but the rest of the semis are down, so no comment on the overall market. A while back I mentioned that stock market is a good predictor of economic future and that the way the market has been behaving seems to be discounting a recession. Well, here is the latest primer from the Fed. Wednesday October 25, 2:17 pm Eastern Time Fed's McTeer Warns GDP May Show Slowdown SAN ANTONIO, Texas (Reuters) - Federal Reserve Bank of Dallas President Robert McTeer warned on Wednesday that the U.S. Gross Domestic Product report due out on Friday may show a significant slowing in the U.S. economy, but he added that later revisions could soften the news. ``Be prepared for a fairly dramatic slowdown,'' McTeer said in speaking before the San Antonio Rotary Club. The U.S. Commerce Department is due to report its first estimate of GDP for the July through September period on Friday. The report is revised twice afterwards. McTeer said, ``We all feel that growth is slowing down.'' The July and August months probably were weaker than September, and since that month's data will be included in subsequent revisions the GDP may later be revised upward, he said. Analysts surveyed by Reuters forecast on average that GDP in the third quarter slowed to a 3.4 percent annual rate from 5.6 percent in the second quarter as higher interest rates and a climb in oil costs start to take the steam out of the U.S. economy.