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

To: Donald Wennerstrom who wrote (17701)	8/6/2004 1:15:26 PM
From: Donald Wennerstrom	Read Replies (2) \| Respond to of 95663

Here is the midday summary on market action from Briefing.com <<12:00 ET Dow -87, Nasdaq -24, S&P -9.47: [BRIEFING.COM] A July unemployment report that showed the slowest rate of job growth in 8 months has prompted a sharp downturn in equities this morning - one that has been reinforced by losses across most sectors and bearish market internals... This morning's nonfarm payrolls data was undoubtedly disappointing - at 32K, the result was about an eighth of the consensus estimate of 243K... June and May were also revised lower, by 34K and 27K, respectively... Strikingly, the unemployment rate actually fell 0.1% to 5.5% (consensus of 5.6%) as the household survey revealed a 52K drop in unemployment... Nonetheless, traders have focused on the nonfarm payrolls number and used the figure as an excuse to sell... Brokerage, transportation, health care, material, semiconductor (more off Nvidia's wide miss last night), and energy have led the market's selling drive, and found support in retail and telecom... Energy has itself taken a hit off the 1% decrease in the price of crude oil, to $43.85, as OPEC's President said the organization was ready to add 1.5 mln barrels a day... Interest-rate sensitive issues, however, have done quite well off the employment report's implications for interest rates (fed funds futures now indicate a 20% likelihood of a Fed hike at the September meeting, down from 70% earlier) and utility and gold have advanced... The bond market has not surprisingly rallied itself - the 10-year note up 41 ticks, bringing its yield to 4.24%... NYSE Adv/Dec 1357/1849... Nasdaq Adv/Dec 606/2267.>>