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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: stan s. who wrote (76579)	5/6/2001 1:30:11 PM
From: American Spirit	Read Replies (1) \| Respond to of 99985

Sunday May 6 1:01 PM ET Investors May Fuel Market Rebound By Denise Duclaux NEW YORK (Reuters) - Investors are expected to nudge the stock market higher this week in a bet that the sputtering U.S. economy will gather speed by year's end. ``The market continues to show remarkable resiliency despite disappointing economic news and earnings reports that leave a lot to be desired,'' said Alan Ackerman, executive vice president at brokerage Fahnestock & Co. ``Money is moving in from the sidelines.'' Investors sent the market higher on Friday, even after the government said the economy lost jobs in April at the fastest rate in a decade. The technology-loaded Nasdaq composite index (^IXIC - news), which closed up 2.1 percent on Friday, has surged almost 34 percent since hitting a two-and-half-year closing low on April 4. This week, investors will scour U.S. retail sales, an initial reading on consumer sentiment and a handful of earnings reports, including numbers out of Internet gear giant Cisco Systems Inc. (NasdaqNM:CSCO - news), to glean more clues on the economy's health. But many are betting the Federal Reserve (news - web sites)'s four-deep interest-rate cuts will spark an economic rebound by the second half of the year. Most Fed watchers expect another cut on May 15. ``I would expect the market to move higher, but I wouldn't expect it to launch into an uninterrupted trend that shoots straight up like a rocket,'' said Paul Cherney, an analyst at S&P Marketscope. ``The bias is positive though.''