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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (6519)	10/30/2003 10:44:47 AM
From: Smiling Bob	Respond to of 19256

DOW 9771 now -hod 9822 so far Don't see tgt being broken GDP growth directly attributed to tax cuts and low rates. The tax cuts/rebates are spent and how long can rates stay low? Message 19448691

To: Smiling Bob who wrote (6519)	10/30/2003 1:50:59 PM
From: Smiling Bob	Respond to of 19256

DOW headlines of 12:49 read as my headlines read @ 9:26 before it happened. I'll stick to mine mine: To:scottonstocks who wrote (6517) From: scottonstocks Thursday, Oct 30, 2003 9:26 AM View Replies (1) \| Respond to of 6525 DOW -Economic news to give very brief lift to 9840 HOD Then sideways at best. Then down to 9650-75 tomorrow GDP not sustainable theirs: Stocks Flat as GDP-Fueled Rally Fizzles Thursday October 30, 12:49 pm ET By Elizabeth Lazarowitz NEW YORK (Reuters) - Stocks were pinned near the unchanged mark at midday on Thursday as the positive impact of a report showing surprisingly strong third-quarter U.S. growth faded amid nagging concerns about the economic rebound's sustainability. The market spiked briefly in early trading after a report showed U.S. gross domestic product surged at a 7.2 percent annual rate in the July-September period -- its fastest clip in more than 19 years -- as consumers went on a buying spree. Economists polled by Reuters had expected a more modest 6 percent pace. The rise included a big boost in capital spending -- an area that has long been the missing link for investors looking for a broad-based recovery. But questions about whether that pace of growth is actually sustainable were still dogging the market, and a strong rally in recent sessions that pushed major market gauges back near their highs of the year made stocks vulnerable to profit-taking, analysts said. "There's no doubt about it, we've had a big rally this week, and it feels like the buying just fizzled," said Michael Palazzi, head of OTC trading at S.G. Cowen. He added there are worries the strength is still not adding new jobs and, consequently, helping consumer spending, a main engine of growth. The Dow Jones industrial average (^DJI - News) was up 20.82 points, or 0.21 percent, at 9,795.35, and the broader Standard & Poor's 500 Index (CBOE:^SPX - News) was down 0.52 points, or 0.05 percent, at 1,047.59. The technology-laced Nasdaq Composite Index (NasdaqSC:^IXIC - News) was up 3.73 points, or 0.19 percent, at 1,940.29. Two other reports helped reinforce the view that the economy is on the mend, as weekly jobless claims data showed stabilization in the labor market and another report showed companies spent more on wages and benefits in the third quarter. The upbeat economic news helped the dollar trim its losses against its major rivals. It also slapped U.S. Treasury prices lower, but the Federal Reserve's recent pledge to keep interest rates low comforted investors and provided bonds some support. Blue-chip oil giant Exxon Mobil Corp. (NYSE:XOM - News) was in the spotlight after the world's biggest investor-owned oil company said its quarterly profit surged on higher oil and gas prices and a rebound in refining and marketing margins. Its results fell short of analysts' forecasts, however, and its shares fell $1.27, or 3.4 percent, to $36.54. Economically sensitive stocks, like those in the manufacturing sector, were underpinning the stock market. Diversified manufacturer Honeywell International Ltd. (NYSE:HON - News) was the biggest percentage gainer in the Dow, up $1.23, or 4 percent, at $30.71. The Morgan Stanley Cyclical Index (AMEX:^CYC - News) rose 0.8 percent. Other big gainers were power and gas merchant Dynegy Inc. (NYSE:DYN - News) and BMC Software Inc. (NYSE:BMC - News), which both reported solid results. BMC on Thursday reported surprisingly strong quarterly operating earnings and forecast full-year results would beat analysts' estimates, sending its shares up 8.5 percent, or $1.34, to $17. Dynegy, which posted a third-quarter profit compared with a loss a year earlier when it took a large charge for its once-profitable wholesale power and natural gas business, rose 39 cents, or 11 percent, to $3.91. (Additional reporting by Denise Duclaux, Doris Frankel) biz.yahoo.com