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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (5599)	5/5/2004 9:36:30 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Russ, look at today right now. What is happening today right now, Eurodollars and treasuries up, I expected yesterday. It appears to me that on that volatility yesterday stops were run on both sides. I would suggest on purpose. M

To: russwinter who wrote (5599)	5/5/2004 9:37:26 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

comments on possible CA gas rationing? M

To: russwinter who wrote (5599)	5/5/2004 10:07:45 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Oil-service stocks tank after B of A downgrade ($OSX) By Lisa Sanders DALLAS (CBS.MW) -- Oil-service stocks slumped in morning trading, one day after Banc of America analyst Jim Wicklund said he sees the cycle for high stock prices ending. Banc of America lowered its rating on the group to "underweight" from "overweight" and recommended investors sell the stocks. "We recommend reducing weighting rather than riding out the correction. This is NOT just a seasonal downgrade." Wicklund said he sees a decline in the U.S. rig count in 2005. Stock prices are driven by drilling activity in North America. The Philadelphia Oil Service Index ($OSX) lost 3.2 percent to 102.13.

To: russwinter who wrote (5599)	5/5/2004 10:30:56 AM
From: mishedlo	Respond to of 116555

U.S. April services index sets record high Wednesday, May 5, 2004 3:20:35 PM afxpress.com WASHINGTON (AFX) -- Activity in the nonmanufacturing sectors of the U.S. economy expanded to a new record high in April, the Institute for Supply Management reported Wednesday. The ISM's nonmanufacturing index rose to 68.4 percent from the previous record of 65.8 set last month, indicating more strength in the services sector. The increase was larger than expected. Economists expected the index to slip to 64.5 percent. Sixteen of 17 industries grew in April. New orders rose to 65.6 percent from 62.8 percent. The employment index rose to 54.5 percent from 53.9 percent. The prices paid index rose to 68.6 percent from 65.7 percent. Readings over 50 percent in the diffusion index indicate expansion in those sectors

To: russwinter who wrote (5599)	5/5/2004 10:34:39 AM
From: mishedlo	Respond to of 116555

April Auto Sales Over all, auto sales were lower than expected in April, up less than 1 percent from a weak April 2003, coming in at a seasonally adjusted annual sales rate of 16.4 million vehicles. -------------- Despite G.M.'s increased incentive spending on trucks in April, sales of its Hummer H2 and Chevrolet Suburban fell more than 20 percent compared with the month a year earlier. G.M.'s Cadillac Escalade declined 17.4 percent and the GMC Yukon XL decreased 19.4 percent. All of those vehicles had increases in the first quarter, except the Hummer, whose sales have been declining for several months. At Ford, sales of the large Expedition and larger Excursion were down 33.6 percent and 16.7 percent, respectively, and the Lincoln Navigator was lower by 25.3 percent. Nissan's Armada, its new full-size S.U.V., and the Titan, its new full-size truck, are not selling as well as the company had hoped. At the same time, sales of smaller, more fuel-efficient S.U.V.'s showed considerable improvement. Sales of G.M.'s Saturn Vue were up nearly 60 percent, and the Ford Escape was up 49 percent, though Ford now has more production of the Escape. ------------- A study released by Kelley Blue Book and the polling firm Harris Interactive said that nearly 40 percent of potential car buyers say high gas prices are influencing their decisions. The groups polled about 1,700 people in late April who said they were in the market to buy a vehicle. nytimes.com