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: sylvester80 who wrote (451554)	9/2/2003 11:29:33 AM
From: Hope Praytochange	Read Replies (1) \| Respond to of 769667

The morning got started well with technology stocks taking a firm lead. Comments from analysts had a lot to do with the positive opening as First Albany now believes that technology stocks are not just gaining momentum in the markets but could be seeing fundamentals picking up momentum as well. Meanwhile a host of upgrades washed across the group. Goldman came out with an upgrade for the software sector, raising their view from "neutral" to "attractive". Looks like they are a bit late on that revelation as the GSO software index is up nearly 40% from its April lows and has been in a non-stop climb from its August lows. It is interesting to note that the largest component in the GSO software index, MSFT, has not moved much in August. Goldman also raised their ratings on the enterprise hardware sector and lifted Dell Computer (DELL) to an "out perform" from an "in line". Smith Barney raised its view on several networking stocks and Bank of America raised its view on multiple semiconductor stocks. The BIG news of the day was the ISM report for August. July's ISM number was 51.8 percent and the August reading came in at 54.7%. This is very positive economic dating showing an improvement for the manufacturing sector for two months in a row. Readings over 50 indicate growth. New orders rose to 59.6 percent and production rose to 61.6 percent. The second biggest economic report for today is the August layoff numbers from research firm Challenger, Gray & Christmas. The report showed that layoffs in August were slower than July, down six percent. The good news is this marks the fourth straight month with planned layoffs less than 100,000.