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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Paul Engel who wrote (29367)	3/3/1998 2:17:00 PM
From: Maverick	Read Replies (1) \| Respond to of 1588247

ML is bearish on semi U.S. TRADING SUMMARY: U.S. blue chip stocks abruptly moved higher at midday after losing as much as 40 points in morning trading on Tuesday, but the Nasdaq fell further as computer company shares came under pressure. Computer stocks tumbled as investors took profits after the sector's recent record-breaking rally, and mulled brokerage Merrill Lynch's grim outlook for semiconductor shares. Merrill's semiconductor stock analyst Thomas Kurlak told the brokerage's technology conference in California that excess worldwide capacity in the semiconductor industry will push the sector's stocks to new lows over the summer months and into the fall. At midday, the Dow Jones Industrial gained 10 points 8660. On the Big Board declines were edging out advances 14 to 13 on 404 million share. In the broader market, the S&P 500 managed a gain of on point to 1048 and the NASDAQ was off just over six points at 1752.