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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: CYBERKEN who wrote (296328)	9/12/2002 11:39:25 PM
From: Patricia Trinchero	Read Replies (2) \| Respond to of 769667

Gephardt didn't have to say anything. The economic numbers that were released this week did all the talking for him!!! finance.yahoo.com Market Update Close: The equity market endured a broad-based retreat today as investors were put off by a number of worrisome considerations, most of which came to light early in the trading day... Accordingly, stocks suffered the bulk of today's losses before noon and remained on the defensive for the most part until the closing bell... The main items of note contributing to the bearish bias were: (1) a worse than expected initial claims report for the week of Sept. 7 that stirred concerns about the pace of economic activity (2) cautious comments from analysts on the prospects for the lodging and chip equipment sectors (3) a warning from Fed Chairman Greenspan, in his testimony before the House Budget Committee, that Congress needs to be more vigilant with fiscal discipline, lest it risk a prolonged period of large budget deficits that could potentially result in a return to an era of high interest rates, low levels of investment, and slower productivity growth (4) a stern speech from President Bush before the UN that highlighted Iraq's defiance of UN resolutions and raised the odds of military action should Iraq fail to take steps to comply with all resolutions beginning immediately (5) rumors IBM (IBM 71.87 -2.33) is going to lower its guidance and (6) actual earnings warnings from the likes of Furniture Brands (FBN 23.20 -1.76) and UST, Inc. (UST 29.84 -3.54)... Though selling efforts were widespread, the weight of losses among key industry groups like bank, brokerage, drug, retail, transportation, consumer goods, and semiconductor, proved too much to overcome... Rebound efforts, in fact, were few and far between as the dearth of leadership made it especially difficult for the market to mount a substantive recovery try...