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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (125954)	6/4/2001 6:28:30 PM
From: H James Morris	Read Replies (1) \| Respond to of 164687

>amzn is toast. burnt toast. Not, if you believe in the Fowler/Harmond road show. Btw Do you believe in Scientology?

To: Skeeter Bug who wrote (125954)	6/5/2001 12:13:22 PM
From: craig crawford	Read Replies (1) \| Respond to of 164687

Tuesday June 5, 10:51 am Eastern Time Service Sector Shrinks for Second Month By Ross Finley NEW YORK (Reuters) - A gauge of U.S. service sector activity for May suggested for a second straight month that huge portions of the U.S. economy -- which until recently remained resilient as the manufacturing sector slumped into recession -- are shrinking as well. The National Association of Purchasing Management (NAPM) on Tuesday said its monthly non-manufacturing index fell to 46.6 in May, its lowest reading in the survey's four-year history and its second straight month below 50. The index read 47.1 in April; economists had expected the gauge to rise to 47.8. A number below 50 indicates contracting economic activity in services, made up of key sectors such as transportation, legal services, real estate and business services. NAPM also publishes a monthly index of industrial activity, which read below 50 for the 10th consecutive month in May. U.S. Treasury securities rose -- pushing yields lower -- as the report suggested, along with weaker data on factory orders and productivity, that the Federal Reserve may cut interest rates further in the months ahead. Stocks rose as investors instead focused on more upbeat corporate news. ``In short, there is little here to cheer; this survey is just about as weak as its manufacturing counterpart,'' said Ian Shepherdson, economist at High Frequency Economics. The survey's employment index edged down to 46.6 in May from 46.7 in April, the third straight month the survey has suggested job losses in the service sector. On Friday the government said U.S. employment contracted for a second straight month in May as firms shed 19,000 jobs. The NAPM non-manufacturing new orders index rose to 48.6 in May from 45.9 in April, an improvement but still suggesting further weakness down the road. ``The fact they are still declining would indicate that things will continue to be slow for the next month or two,'' Ralph Kauffman, chair of NAPM's non-manufacturing business survey committee, told reporters in a telephone conference. The prices paid index held at 59.5 for the third straight month, suggesting that prices paid by non-manufacturing companies are still rising, albeit at the same pace as the prior month. Most components of the prices index, which includes everything from beef to electricity to plywood, rose during the month, but Kauffman cautioned that would not last long if the economy continued to slow. ``If things stay slow enough for long enough I'm sure they (prices) will come down, but they are showing stickiness at the moment,'' Kauffman said. New export orders also contracted sharply, to 48.5 in May from 55.5 in April, suggesting global demand for U.S. services is falling in tandem with demand for manufactured goods. The NAPM non-manufacturing index is compiled by surveying more than 370 purchasing executives in over 62 different service industries once a month. Non-manufacturing industries account for about 80 percent of U.S. gross domestic product. The survey was first launched in July 1997.