Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Steve Dietrich who wrote (297328)	9/16/2002 10:02:16 PM
From: greenspirit	Read Replies (2) \| Respond to of 769670

Interesting take Steve. If I am reading this wrong, so is Reuters. We'll just have to wait and see. I think news which tends to diffuse international war, typical serves as a positive signal to the market which loves stability. biz.yahoo.com Reuters Business Report Stocks Seen Rising After Iraq News Monday September 16, 8:07 pm ET NEW YORK (Reuters) - U.S. stocks were expected to climb on Tuesday after Iraq agreed without conditions to allow U.N. weapons inspectors back into the country, allaying concerns that war is imminent. ADVERTISEMENT U.N. Secretary-General Kofi Annan announced the potential breakthrough on Monday after receiving a letter from Iraqi Foreign Minister Naji Sabri. "I can confirm to you that I have received a letter from the Iraqi authorities conveying their decision to allow the return of the inspectors without conditions," Annan told reporters. The news immediately pushed up the Standard & Poor's 500 equity futures index, as investors appeared heartened by the prospect of reduced tensions between the United States and Iraq. The Standard & Poor's 500 equity futures contract climbed more than 18 points to 911.10 in late New York trade, before retracing some gains. "Tomorrow, the initial direction will be up," said James Volk, co-director of institutional trading at D.A. Davidson and Co. in Portland, Oregon. "This is a positive because it eliminates the chance of spending billions and possibly losing lives in a war," Volk said. "However, it does not change longer term what is going in terms of corporate earnings and economic growth. People are cautious because of the earnings outlook and whether Hussein is really going to go through with this." President Bush put the heat on Iraq last Thursday when he told the U.N. General Assembly that Iraq was undermining the international organization's credibility by violating 16 Security Council resolutions. Arms experts were pulled out of Iraq in December 1998, hours before a bombing raid by the United States and Britain to punish Baghdad for not cooperating with inspections. "We're seeing a spike in buying on optimism that conflict might be averted," said a trader at Instinet in New York. "I think a lot of people have been thinking that war is inevitable and this is the first instance that negates that possibility." The expected stock market upswing would come on the heels of mixed results on Monday, when the blue-chip Dow average ended higher for the first time in four sessions but the tech-laden Nasdaq slumped amid worries over earnings and the threat of a second Gulf War. Chip stocks like Texas Instruments Inc. (NYSE:TXN - News) weighed on the high-technology sector after a raft of bearish research notes from Wall Street analysts sent a key gauge of that sector to its lowest point in about 3-1/2 years. But aerospace giant Boeing Co. (NYSE:BA - News) rebounded from days of decline, supporting the blue-chips, after averting a strike by its largest union. "Technology stocks seem to be saying that things are not getting better, so we should not be expecting too much," said Alfred Kugel, senior strategist at Stein Roe Investment Counsel. But he added that other sectors were doing better. Monday's meager serving of economic news was encouraging. The government reported before the market open that U.S. businesses added to their inventories for a third straight month in July, stockpiling goods in a way that suggested increasing optimism on the economic outlook. The broad Standard & Poor's 500 (CBOE:^SPX - News) ended little changed, up 1.29 points, or 0.14 percent, at 891.10, according to the latest available data. The Dow Jones industrial average (CBOT:^DJI - News), which groups 30 blue-chip stocks, was up 67.49 points, or 0.81 percent, at 8,380.18. The Nasdaq Composite Index (NasdaqSC:^IXIC - News) lost 15.52 points, or 1.20 percent, to 1,275.88. Tech shares followed a downward trend. Software leader Microsoft Corp. (NasdaqNM:MSFT - News) slipped 13 cents to $47.78. International Business Machines Corp. (NYSE:IBM - News) lost 33 cents to $72.32, both weighing on the Dow. Among other losers, Sun Microsystems (NasdaqNM:SUNW - News) lost 18.20 cents at $2.93 and Oracle Corp. (NasdaqNM:ORCL - News) shed 45 cents at $9.28, ahead of its earnings report on Tuesday. Dow stock Boeing jumped $1.65 to $36.23. Boeing's largest union said its members had turned down their leaders' call to strike, adopting a contract by default even though more than half the voters opposed the three-year pact. The corporate confessional period when companies warn of missed earnings targets kicks into high gear this week. Analysts see third-quarter earnings at companies in the Standard & Poor's 500 rising 10.9 percent from the year-ago period, research firm Thomson First Call said. Losers outweighed winners by margin of about 9 to 7 on the New York Stock Exchange and about 7 to 4 on Nasdaq. About 986 million shares changed hands on the Big Board and 1.09 billion on Nasdaq in light trading as many traders took the day off for the Jewish holy day of Yom Kippur.

To: Steve Dietrich who wrote (297328)	9/16/2002 10:43:30 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 769670

Hi Steve, Re: If the UN finds Iraq's offer credible and legitimate and we don't Yesterday, it looked like France and Saudi Arabia were caving in to the War Party's overwhelming power position, and deciding to side with the winner, rather than allow any sort of fair play or sensibility about repercussions and "blowback" enter into the consideration. Iraq may have distracted the discussion for a moment or two, but the momentum really does seem to be on the side of the war mongers. No matter how insane their ill-conceived scheming happens to be. No joy. Salaam aleikum, Ray