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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (46998)	3/5/2004 9:38:04 AM
From: elmatador	Respond to of 74559

Weak jobs data hammers Wall Street By Stephen Schurr and Jennifer Hughes in New York Published: March 5 2004 13:54 \| Last Updated: March 5 2004 13:54 The big news that Wall Street has been waiting for arrived, and a major disappointment on the employment outlook weighed on US stock futures on Friday morning. Intel's disappointing outlook also hindered tech stocks. The two pieces of news conspired to send US stocks lower on Friday morning. About 45 minutes before the opening bell, the S&P 500 futures were off 3.2 points to 1,151. The Nasdaq futures were off 7.5 points to 1,470. The February non-farm payrolls report showed that a mere 21,000 new jobs were created during the month, far below the 125,000 economists were expecting. The unemployment rate remained at 5.6 per cent, as expected. The latest report shows that the sluggishness in the US employment market remains the fly in the ointment of the economic recovery. The dollar slumped and treasury yields fell sharply as investors pared back their expectations of an interest rate rise following the report. The euro jumped from $1.2175 as the numbers were released to $1.2300 in minutes. The yield on the two-year treasury note sank 13.25 basis points to 1.5728 per cent. The longer end of the curve was no less affected, and the yield on the 10-year bond also fell 13bp to 3.8895 per cent. "There is nothing, and I mean nothing, bullish in the results," said Steven Poser, market strategist at Poser Global. "The only moderate positive is that manufacturing is merely down 3,000." Meanwhile, chip giant Intel offered its mid-quarter update on Thursday evening, offering revenue projections for the first quarter that were below Wall Street expectations. Shares of Intel declined 1.7 per cent in premarket trading to $29.15, according to Instinet. The company said it expects to report first-quarter revenue of $8bn to $8.2bn, below Wall Street's expectations for about $8.3bn. The chipmaker said demand for its microprocessors is lower than normal for this time of year, raising concerns that the corporate America isn't rushing to increase its capital expenditures for information technology products. The news put pressure on the broader semiconductor sector. The Semiconductor HOLDRs, a basket of chip stocks that trades on the American Stock Exchange, was off 2.4 per cent to $40.55. It wasn't all doom and gloom on Friday morning, however. Shares of Finnish mobile company Nokia gained 1.5 per cent to $23.07 in active trading. The Finnish mobile giant unveiled a deal to help Nordic telecom company TeliaSonera upgrade its networks. Elsewhere, Boston Scientific received US regulatory approval for its heart-disease treatment, sending the company's shares up 4.7 per cent to $46.20.

To: TobagoJack who wrote (46998)	3/5/2004 10:37:14 AM
From: Ilaine	Read Replies (2) \| Respond to of 74559

Hi Jay - Thought you would be interested in this report on Chinese crawfish by the Southern Folkways Association. southernfoodways.com I suppose Chinese people may think that this is just prejudice, but it's not. Like any other animal that is used for meat, they taste like what they eat, and it seems like they must be being fed garbage, because that's what they taste like. The water and the dirt matter, too. You need clean water and "clean" dirt - no oil or other pollutants. The water can be muddy but it has to be "clean" mud, just as it occurs in nature, without any human waste or effluvia. Someone who fed his crawfish tastier food and produced tastier crawfish might become the king of Chinese crawfish. Just thought I'd pass this along. Hope you are well. Edit: meant to send this via PM. Oh, well.