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

To: mish5000 who wrote (25998)	6/5/2001 8:45:53 AM
From: 2MAR$	Read Replies (2) \| Respond to of 37746

MARKET TALK: S&P 500 21% Overvalued, Yardeni Says 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 8:44 (Dow Jones) The S&P 500 is 21% overvalued, says Deutsche Banc's Ed Yardeni, down from 25% last week. The decline in 2001 consensus operating EPS growth forecasts is widening again, while the growth forecast for 2002 is closing in on 19%. (TG) 8:38 (Dow Jones) The high 6.3% annual rate of increase in unit labor costs in 1Q when demand was sluggish means that companies cannot pass on the cost increases and, so, profits get squeezed. (JM) 8:33 (Dow Jones) Productivity in 1Q was revised to a 1.2% annual rate of decline from the initially announced 0.1% decline. Unit labor costs as a result were revised to show a 6.3% annual rate of increase, from 5.2%. ULC equal the rate of hourly compensation less productivity, and constitute the contribution of labor costs to a hypothetical unit of output. (JM) 8:30 (Dow Jones) The sleepy activity seen in Monday's session looks like it will continue this morning, although there are some economic numbers to consider. With data - some at least - showing signs the economy may be turning, it will be interesting to see how stocks react in upcoming months, when the prospect of rate cuts drying up becomes a reality. Two months into its quarter, Xilinx (XLNX) says it's on track, and business improved in May. Comverse Tech (CMVT) topped views, and that stock will be heading higher. The oil patch should be active again in the wake of reports OPEC won't change output despite Iraqi reduction. Stock futures edge higher, Tsy price marginally stronger. (TG) (END) DOW JONES NEWS 06-05-01 08:44 AM * end of story *