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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: DlphcOracl who wrote (5839)11/15/2001 8:55:38 AM
From: DlphcOracl  Read Replies (1) | Respond to of 99280
 
Jobless claims fall 8K to 444K, much lower than the 475K consensus. While very encouraging from an economic standpoint, suggesting that layoffs appear to be declining, this has resulted in sharp drop in Dow (-25) and Nasdaq (-21) futures.

Why? Because it has raised the fear or specter among futures traders that the Fed will not ease interest rates again in December. According to Rick Santelli on CNBC (the only knowledgeable analyst on CNBC, I might add), the futures went almost instantaneously from 100% to barely 50% for probability of an additional Fed rate cut.



To: DlphcOracl who wrote (5839)11/15/2001 9:06:21 AM
From: JRI  Read Replies (1) | Respond to of 99280
 
Delph- A lot of businesses hanging on, not firing employees yet...hoping for a rebound..

If the rebound next year comes in weak or flat-lines...many companies are not going to hang onto employees like this go round, and suffer permenantly lower profits..

Guess this all depends on one's view: Is this a normal cyclical correction, or something much bigger and historic?
IMO, we have only begun the process of rationalization...


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