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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (18673)	6/24/1998 10:24:00 AM
From: Jenna	Respond to of 50167

IQBAL..thanks for the kind words. I'll be in touch with Chuck and set it up.

To: IQBAL LATIF who wrote (18673)	6/29/1998 12:07:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Japan and our emphasis on a possible turnaround now in news- My very aggressive trade would JPN index long calls 165 for Sept selling 145 puts. 2 calls to 1 put. Subject: (BN ) U.S. Stocks May Rise, Boosted by Japan Survey (Update Date: Mon, 29 Jun 1998 09:31:11 -0400 RZZ@isb.comsats.net.pk FYI U.S. Stocks May Rise, Boosted by Japan Survey (Update2) 6/29/98 9:22 U.S. Stocks May Rise, Boosted by Japan Survey (Update2) (Adds Young Broadcasting in 'Movers' section. Updates futures.) New York, June 29 (Bloomberg) -- U.S. stocks are expected to rise after a survey showed that Japanese executives are unexpectedly optimistic for a revival of their nation's stumbling economy, raising hopes for greater U.S. corporate profit growth later this year. Rockwell International Corp. may lead the gains. Growth in Japan, the world's second-largest economy, would mean more demand for U.S. goods, and would boost other economies in Asia. ''The Japanese market rallied a little bit and the dollar's down against the yen,'' said Donald Selkin, chief market strategist at Joseph Gunnar & Co., a New York brokerage. ''That's what the market wants to see.'' Futures contracts pointed to higher share prices when trading opens. Standard & Poor's 500 Index futures for delivery in September rose 3.50 to 1151.10. September futures on the Dow Jones Industrial Average rose 41 to 9088. September S&P futures also jumped after the close of U.S. stock markets Friday, putting the contract above the fair value of 1142.30 calculated by Bloomberg Analytics. That could spark index-arbitrage trading this morning in which traders sell the overpriced futures contract and buy the underlying issues in the S&P 500, powering the stock market higher. Rockwell International Corp. may rally after saying it will spin off its semiconductor unit, which includes the world's biggest modem-chip business. The chip unit has been hurt by falling prices for computer components and the Asian financial crisis. Rockwell said it will take a pretax charge of $625 million in the third quarter to cut 3,800 jobs. Profits of U.S. exporters such as Rockwell and Minnesota Mining & Manufacturing Co. have been hurt by the strong dollar, which makes their goods more expensive overseas. The weakness in yen also threatens to worsen the economies of China, South Korea and other Asian nations by making imports to Japan more expensive and exports from Japan less costly. The Bank of Japan's widely watched ''tankan'' survey of corporate sentiment showed that managers expect conditions to improve by the next survey in September as the government spends as much as 16.65 trillion yen ($117 billion) to help pull the economy out of recession. The ''tankan'' poll of 10,000 businesses showed executives are more pessimistic than at any time since the July-September quarter of 1994. Still, the outlook was more promising, the survey showed.