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Strategies & Market Trends : The Thread -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (36322)	3/9/2001 8:36:08 AM
From: 2MAR$	Respond to of 49816

Mfg Still Struggling, But Rest Of Economy OK Edited by Thomas Granahan Of DOW JONES NEWSWIRES (Call Us: 201 938-5299; All Times Eastern) MARKET TALK can be found using code N/DJMT 8:35 (Dow Jones) Manufacturing employment declined by 94K, construction managed to increase by 16K, and a solid 210K gain in services. The construction gain was contrary to expectations, but the factory sector was worse than expected. On balance, manufacturing is in deep recession, but the rest of the economy is maintaining momentum. (JM) 8:33 (Dow Jones) Feb. payrolls stronger than expected at +135K. Jobless rate at 4.2% and wages up $0.07. DJ/CNBC survey had called for 75K gain, a 4.2% jobless rate. What slowdown? Data should spark fears of 25BP, not 50BP, on March 20. (BB) 8:30 (Dow Jones) Another big tech earnings warning, this time from Intel (INTC), will pressure stocks Friday morning. Intel said sales will fall 25% quarter over quarter, and also would not call this quarter the bottom. The warning itself is not too surprising, but the severity of it is. So, on the one-year anniversary of the Nasdaq Composite's first close above 5000 mark, the tech-stuffed barometer may make a run at its intraday bear-market low of 2071 hit on March 1. Natl Semi (NSM) also warned that it won't come close to hitting 4Q views, and Motorola (MOT) was cut by Merrill. Safe to say techs will be under pressure, at least early. Outside the corporate news front, the Street gets a look at Feb. non-farm payrolls and the country's unemployment rate. There is some talk that the Fed is trying to guide rate-cut expectations for March 20 down to a quarter-point, so we'll see if these numbers support that minority view. Stock futures weak, Tsys higher. (TG) (END) DOW JONES NEWS 03-09-01 08:35 AM