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

To: Donald Wennerstrom who wrote (12439)	11/8/2003 10:26:36 PM
From: StanX Long	Respond to of 95525

Talking about jobs, Stan. Treasury's Snow Sees Job Growth Ahead 4 minutes ago Add Business - Reuters to My Yahoo! story.news.yahoo.com WASHINGTON (Reuters) - Americans can look forward to "a nice pick up in jobs" if consensus forecasts for economic growth pan out, U.S. Treasury Secretary John Snow said in a television interview broadcast on Saturday. "With growth rates in the 4 percent category that the blue-chip economists are saying is what we're going to see for the fourth quarter and beyond into '04, there's going to be a nice pick up in jobs," Snow said on MSNBC. According to government statistics released on Friday, non-farm employers added 286,000 workers to their payrolls over the last three months, fueling hopes that stubbornly high unemployment is now giving way to steady job creation. In the interview, taped before the latest jobs numbers were released, Snow said he was heartened by the U.S. economy's strong third-quarter growth. The economy charged ahead at a 7.2 percent annual rate in the July-September period, the fastest in nearly two decades. "The growth rates for this last quarter are really, really encouraging and with growth will come jobs," Snow said, adding that the quickened pace of recovery stemmed in part from tax cuts pushed by President Bush (news - web sites). "There's no doubt about the fact that the president's tax plan has had a big effect on the economy," Snow said. While most private-sector economists agree, many argue that the fiscal stimulus could have been better focused in ways that did less damage to the long-term budget outlook. The non-partisan Congressional Budget Office (news - web sites) has forecast deficits totaling $1.4 trillion over the next 10 years. In the fiscal year that ended in September, the U.S. government posted a record $374.2 billion budget shortfall, equivalent to 3.5 percent of gross domestic product, the biggest since 1993. "We're not happy about these deficits," Snow said. "They're unwelcome and they are going to be dealt with." A combination of spending restraint and faster growth, which would generate more tax revenue, could bring deficits under control, he said. Snow noted that Bush had pledged to cut the deficit in half in five years and said that if that happened, deficits would fall to below 2 percent of gross domestic product. "At 2 percent of GDP (news - web sites), its a very manageable deficit," he said.

To: Donald Wennerstrom who wrote (12439)	11/9/2003 9:56:37 PM
From: Return to Sender	Read Replies (2) \| Respond to of 95525

Don, I would like to echo the interest Michael Happel had in seeing tables for the recent gains. I think tables from October 2002 to now, or March 2003, would be better than year to date. From the October 2002 bottom would be best. A lot of the discussion lately here has been about market tops and the FED raising rates. I too am concerned but I also agree there is plenty of reason to believe that stocks can continue to rise after periodic selling to reach the lower channels of the respective uptrends. Eventually stock investing may rotate out of technology stocks into other areas where more relative value now exists. The major drug stocks for instance have been some of the worst perfomers this year. I expect these stock to outperform later in this economic recovery. On the other hand I bet Michael will be interested to see this chart from Barcharts because it lists the relative performance of most of the semi equips which we discuss here over the last year: www2.barchart.com RtS