Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (22287)	5/11/2001 9:19:19 AM
From: 2MAR$	Respond to of 37746

MARKET TALK: Getting Past 2300 Will Be Effort For Nasdaq 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 9:17 (Dow Jones) The Nasdaq Composite Index may close above 2200 in the coming days, but then faces an almost Herculean effort to get past 2300, one technical analyst says. The index, which closed Thursday at 2128, faces resistance at levels of failed rallies past, says Michael Krauss of JP Morgan Securities. These points include 2244, which was the early March high; 2252, the January low; 2256, which is a retracement of 50% of this year's drop; and 2260, the high point of a former range. (KJT) 9:04 (Dow Jones) Producer food prices rose by 0.6%. They have been up sharply this year and this is a pressure that should pass to CPI quickly. Energy prices were only up 0.1%. That's because sharp increases for gasoline and fuel oil were offset by large decline in natural gas prices. Natural gas has since risen. Core prices rose mainly because computer prices were up 1.5% after being down 5.9% in March. (TG) 8:57 (Dow Jones) Keep your eye on Ameritrade (AMTD) shares at the open. The USA Today is reporting Ameritrade is in talks to be acquired by Canadian Imperial Bank of Commerce, a move that would run counter to Ameritrade's past statements that it wants to remain independent. So far, there's been no comment from Ameritrade. Moreover, Ameritrade today reported its April trading data - trading activity rose 19% from March levels, but is down from a year ago. Thursday, Ameritrade shares rose 21 cents, or 2.7%, to $7.96. (GFC) 8:52 (Dow Jones) Now that the XFL is no longer blocking and tackling profits at World Wrestling Federation Entertainment (WWF), Legg Mason Wood Walker analyst Breck Wheeler upgrades the stock to buy from market perform. Setting a 12-month price target of $17 a share, Wheeler says management can refocus on its core wrestling product following word late Thursday that it was folding the fledgling, money-draining football league. (DDO) 8:44 (Dow Jones) The strong retail sales data shows that consumer activity is strong going into the 2AQ. It's not seen significantly mitigating the chances that the Fed will cut by a half point next week, but what will happen after that will become hotly debated. Interest rate markets, including the two-year Treasury, eurodollar futures, and Fed fund futures, all seem to suggest that the Fed's job is done after 50 more basis points. (SV) 8:42 (Dow Jones) Having had about 10 minutes to digest data, stock futures don't look much different than they did before numbers. Basically flat, with eyes now focused on consumer sentiment, at 10:00 a.m. ET. June S&Ps up 2 points, Dow futures up 15, and Nasdaq up 5. (TG) 8:39 (Dow Jones) EUR/USD was a bit firmer following a modest increase in PPI and a sharp rise in retail sales data. The numbers were seen as unlikely to push the dollar out of current ranges. USD/JPY is at Y122.17; EUR/USD at $0.8790. (JRH) 8:37 (Dow Jones) Increase in total sales suggests autos actually contributed to gain in retail sales. Non-auto retail sales up 0.7%, which itself is a strong increase. The downward revision to March may take away some growth from the 1Q, but the solid numbers for April give a robust start to consumer spending in 2Q. 8:30 (Dow Jones) It's another one of those potentially important Friday's for stocks. Vital readings coming on April prices at the wholesale level, retail sales and, maybe the most important, a barometer of consumer sentiment. The consumer-driven retail sales are obviously key, but don't shortchange that PPI reading. Without question the Fed is fixated solely on avoiding a recession now, but an increasing number of economists are talking of the hangover that is likely to result later on this year and into next as a result of the dramatic rate cuts we've already seen. If the core rate of PPI is well above the 0.1% increase expected, it could be just a bit worrisome. Notable story in Business Week has Merck (MRK) offering to buy Schering-Plough (SGP) for $91 billion in stock. Novartis (NVS) gets FDA OK for leukemia drug, and IBM sounds positive at analyst meeting Thursday afternoon. Stock futures flat, as are Tsys. (TG) (END) DOW JONES NEWS 05-11-01