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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (1827)	2/2/2002 11:16:37 AM
From: Return to Sender	Respond to of 95640

From Briefing.com: Close Dow -12.74 at 9907.26, S&P -8.00 at 1122.20, Nasdaq -22.78 at 1911.25: The major averages closed lower following several economic reports released early Friday. The first report was the January Employment Report. Nonfarm payrolls came in a bit weaker than expected, falling 89K versus the consensus expectation for a 50K decline. Yet the big surprise in this report was the drop in the unemployment rate to 5.6% from 5.8% -- the consensus expectation was for a reading of 5.9%. Getting into the details of the report, January saw an 89K decline in manufacturing payrolls which matched the overall decline. At the same time, service-producing payrolls rose 56K as seasonal effects helped to lift retail payrolls 62K while health services added another 25K... The second notable economic report was the University of Michigan consumer sentiment index. The index fell to a final reading of 93.0 for January which was slightly lower than the preliminary reading of 94.2. Nonetheless, the January number marked a 4.2 point rise over December. Note that the uptick in January also represents the fourth consecutive rise in the index summing to a 14% improvement from its September low of 81.8... Finally, the ISM index, formerly called the National Association of Purchasing Manager's (NAPM) Index, rose to 49.9% in January from 48.2% in December. The number was almost exactly in line with the 50.0% consensus. As a point of interest, note that numbers above 50% represent growth -- this means the January reading rests at the cusp of growth after 18 months of steady contraction. It is also worth mentioning that the orders index, one of the more forward looking components, was a strong 55.3% versus 55.5% in December... Next week, the economic calendar is relatively light though ISM Services and Factory Orders are scheduled for release on Tuesday. On the earnings front, technology bellwether Cisco Systems (CSCO) is scheduled to report its quarterly results on Wednesday after the close. For a complete list of what to expect in the upcoming week, please visit Briefing.com's Earnings Calendar and Economic Calendar.DJTA -1.4%, DJUA +0.8%, Nasdaq 100 -1.4%, Russell 2000 -0.6%, SOX -1.1%, S&P Midcap 400 -0.2%, XOI +1.0%, NYSE Adv/Dec 1448/1674, Nasdaq Adv/Dec 1549/1999 4:07PM Solectron $500 mln senior notes offering (SLR) 11.51 -0.21: Prices public offering of $500 mln of its senior notes, maturing Feb. 15, 2009; notes have a coupon rate of 9.625% annually; issue price of the notes is 99.369% with the first interest payment date of Aug. 15, 2002. 11:52AM Novellus (NVLS) 42.30 -0.41: Hearing Street talk that NVLS has lost mkt share at INTC to AMAT; we have not been able to confirm any details of this rumor. 10:07AM Nasdaq Composite Intraday -- Technicals -- : Early weaker tone but the losses were limited as biotech gains and only fractional losses in the key semi sector contained the selling pressure. Index pushed back to unchanged but continues to be stymied by resistance in the 1937/1939 area (50 day exp/200 day simple ma). Secondary resistance is at 1950 with a stronger short term ceiling at 1960 (capped rally last week and early this week). Supports are at 1922, 1915/1913 followed by 1903/1900. finance.yahoo.com RtS