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To: Lucretius who wrote (45375)	12/8/2000 8:40:16 AM
From: UnBelievable	Read Replies (2) \| Respond to of 436258

Hourly Wage Data Not Comforting 12/08/2000 Dow Jones News Services (Copyright © 2000 Dow Jones & Company, Inc.) 8:37 (Dow Jones) Average hourly earnings went up six cents, 0.5%, which is stronger than comfortable and occurred despite the rise in the unemployment rate to 4.0% from 3.9%. Suggests that there is still enough tightness in labor market to impose wage pressures. (JM) 8:36 (Dow Jones) Already-strong stock futures gain ground on mixed jobs report. Dow futures up 110, S&P futures up 20, well above fair value of about 10. (TG) 8:35 (Dow Jones) Payrolls rose 94,000 in Nov., which was less than consensus, but is consistent with some expectations after Labor revised seasonal factors down. Government jobs went down by 54,000, so private jobs went up by 148,000. (JM) 8:34 (Dow Jones) Forex market kneejerk reaction to jobs data has been a small drop in USD. EUR/USD has jumped to $0.8905 vs previous level of $0.8894 while USD/JPY is at Y110.95 vs Y110.91. (CSE) 8:30 (Dow Jones) For whatever reason, stocks are poised to open higher, despite Intel's (INTC) 4Q warning. Maybe more PC concerns should project weaker-than-expected results. Oh, that's right, just about all of them already have. Actually, stocks are hanging in so well because there's been so much damage already done, and Intel's warning wasn't entirely unexpected. Unfortunately, Intel didn't give any guidance for the 1Q, which could have investors jittery through the beginning of next year. Anyway, just as important to the near-term direction of stocks is this morning's payroll report. Further weakness will confirm what we already know - the economy is slowing down sharply and the Fed is going to cut rates sometime next year, maybe early. That would give equity players more reason to jump in. Too much weakness will be trouble, though. Stock futures up big before the data. (TG) (END) DOW JONES NEWS 12-08-00 08:37 AM