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To: kemble s. matter who wrote (167460)	10/11/2001 11:24:36 AM
From: stockman_scott	Read Replies (1) \| Respond to of 176387

Stocks Soar, Post-Attack Losses Dissolve Thursday October 11, 10:42 am Eastern Time By Elizabeth Lazarowitz NEW YORK (Reuters) - Stocks shot higher in early morning trading on Thursday, as a batch of corporate earnings helped the broad market erase the losses that followed the deadly Sept. 11 attacks on the United States, one month ago. The air attacks that destroyed the World Trade Center and damaged the Pentagon and left more than 5,500 people dead also knocked the wind out of the market, sending major indexes more than 11 percent lower in the week after the assaults. The market has gradually gained back nearly all of those losses, however, and Thursday's technology-led surge helped the broad Standard & Poor's 500 index (.SPX) retrace all of the ground loss since its close on Sept. 10. ``Psychologically, it's important short-term,'' said Peter Coolidge, senior equity trader at Brean Murray & Co. ``It shows that at least on a short-term basis, there is still investor confidence around.'' The technology-laced Nasdaq Composite Index (.IXIC) jumped 52.78 points, or 3.25 percent, to 1,679.04, and is now down only 1 percent since its Sept. 10 close, the day before the attacks. The blue-chip Dow Jones industrial average (.DJI) jumped 123.86 points, or 1.34 percent, to 9,364.72, and is down more than 2 percent from its pre-attack level. The broader Standard & Poor's 500 Index (.SPX) was up 13.19 points, or 1.22 percent, at 1,094.18, surpassing the Sept. 10 close at 1,092.54. Wall Street reacted calmly to a fifth day of U.S. retaliatory strikes in Afghanistan as it has thus far. The United States stepped up bombing raids aimed at rooting out followers of Osama bin Laden, who the U.S. government has accused of masterminding the Sept. 11 attacks. The New York Stock Exchange observed a moment of silence at 8:48 a.m. EDT (1248 GMT) to mark the month since the attacks. The market got further support from fewer-than-expected weekly jobless claims, although the report indicated the labor market remains anemic. The success of the U.S. strikes thus far, and prospects for further economic stimulus as Congress haggles over the details of what could be a multibillion-dollar plan are lifting investors' hopes, said James Volk, co-director of institutional trading at D.A. Davidson & Co. ``This economic stimulus package ... has convinced people that maybe the economy could turn around sooner rather than later,'' Volk said. Investors got satisfaction from companies like online brokerage E-Trade Group Inc. (NYSE:ET - news) that met or beat analysts' consensus estimates. ``That's led to some encouragement that perhaps the worst is behind us,'' said Jeff Kleintop, chief investment advisor at PNC Advisors. Late on Wednesday E-Trade reported its profit rose 29 percent, beating Wall Street estimates, as cost controls and non-stock operations helped offset sharply lower customer trading. The company also upped its forecast for the fourth quarter and reiterated its estimates for fiscal 2002. E-Trade jumped 86 cents to $7.52. Global powerhouse General Electric Co. (NYSE:GE - news) rose $1.11 to $39.02 after it posted a 3 percent rise in profits, meeting Wall Street estimates. Internet media giant Yahoo! Inc. (NasdaqNM:YHOO - news) late on Wednesday reported a loss and a drop in revenues and said it may have to cut more jobs as it grapples with an ``unprecedented'' economic downturn. Excluding a range of costs Yahoo met Wall Street's forecasts, and while it cut its full-year and fourth-quarter revenue forecasts, the company said it could meet existing operating profit goals for the year by cost-cutting. Yahoo rose$1.18 to $12.11. Genentech Inc. (NYSE:DNA - news), the world's second-largest biotechnology company, posted a 22 percent rise in earnings, driven by strong sales of its antibody-based cancer drugs. Its stock gained $4.20 at $45.

To: kemble s. matter who wrote (167460)	10/13/2001 12:57:10 AM
From: calgal	Read Replies (2) \| Respond to of 176387

The Right Stuff in Tough Times Dan Frisa Friday, Oct. 12, 2001 President George W. Bush last night once again clearly demonstrated his keen understanding of the gravity of a confluence of complex factors within which he is commanding the prosecution of the War on Terrorism. At a White House prime-time press conference, the president reiterated his determination and firm commitment to take the war to the terrorists on a number of key fronts, simultaneously. By freezing Taliban and Al Qaeda financial assets – some $24 million thus far – the U.S. and its allies are beginning to put the squeeze on the ability of these murderous enterprises to conduct their evil deeds. On both the diplomatic and law enforcement fronts, the U.S. is engaged in fruitful efforts to seek out and apprehend terrorists across the globe, with scores of arrests by governments in every corner of the world. In issuing a Most Wanted Terrorists list, the spotlight is now being placed on the very worst leaders and perpetrators of terrorist activities, with the added assistance of the Fox television show America’s Most Wanted, hosted by John Walsh, in a special to air Friday evening. The program has a worldwide audience. Domestically, earlier this week the president presided over the swearing-in of Tom Ridge, by Justice Clarence Thomas, as director of the newly created Office of Homeland Security, whose charge is to coordinate and unify some 40 agencies of the federal government with the activities of some 18,000 state and local law enforcement departments. The Senate last night passed legislation to address both air travel safety and amendments to U.S. law to enable more effective surveillance and pursuit of suspected terrorists here at home. The first bill would allow qualified commercial pilots to carry pistols and requires reinforcement of cockpit doors. The second provides for roving tracking of an individual rather than a specific telephone line, and also would provide additional tools to federal law enforcement officers as requested by Attorney General John Ashcroft some weeks ago. As commander in chief, President Bush is firm in his belief that a full onslaught is the only effective means to achieve his stated goals of bringing the Butcher bin Laden and his Taliban hosts to justice. Unlike his predecessor, this president is committed to using the maximum force necessary from the full range of the U.S. arsenal of assets, giving the military the ability to accomplish its task without pulling political punches. Not only will such a decisive approach help ensure victory in this battle, it has already sent a crystal clear message to other governments with either a history or propensity to finance, support and harbor terrorists: Change your ways or let Afghanistan’s fate be your own. It is both refreshing and reassuring to have a leader with the right stuff in these tough times, which is why George W. Bush is a president who has faced the deadly challenge that caused the cold-blooded murder of 6,000 innocents on September 11 and met it square in the eye with intelligence, common sense, and steely resolve. newsmax.com