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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (55809)	11/18/2001 4:14:37 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Wall St Week Ahead: Stocks to rise as mood lifts Reuters, 11.18.01, 11:20 AM ET forbes.com (Repeating column that ran Nov 16.) By Chelsea Emery NEW YORK, Nov 18 (Reuters) - Look for U.S. stocks to edge slightly higher this week as Wall Street cheers improving corporate profits, recent military successes in Afghanistan and growing optimism for an economic recovery next year. Better-than-expected earnings from tech bellwethers such as Hewlett-Packard Co. (nyse: HWP - news - people) have helped brighten the outlook for the battered sector. Investors have also taken heart from surging retail sales data that shows consumers are flocking to stores -- and buying. "The market has an upward bias to it," said Edward Hemmelgarn, president of Shaker Investments, which oversees $2 billion in Cleveland, Ohio. "Companies aren't missing their numbers anymore. The news isn't getting any worse and, in fact, it's actually starting to improve." Still, traders expect volatility caused by light volume as portfolio managers and other investors head out of town for the Thanksgiving holiday, which will be observed on Thursday, Nov. 22. The stock market, which will be closed on Thursday, will shut down early at 1 p.m. EST (1800 GMT) on Friday. Just 3.48 billion shares changed hands on the New York Stock Exchange during Thanksgiving week last year, compared with 6.26 billion traded on the week ended Nov. 9. "We're going into a light volume week and a lot of participants will be out, so the potential for volatility is there," said John O'Donoghue, co-head of listed stock trading for Credit Suisse First Boston.