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

To: steve susko who wrote (18732)	6/28/1998 12:48:00 AM
From: IQBAL LATIF	Respond to of 50167

My opinions are well known however this is one interesting post I read yesterday, some strong logic and in line with our 'strong economy means strong numbers'. I will like to see now the pressure in the service sector which can trickle into 'inflation numbers', I will write on this soon moreover this great brinkmanship going on in China is going to have a posive impact a kind of honey moon period for Yuan and markets in ASEA. Strong growth and MFN assisted China will help the global economy a lot, the future of our growth hinges on improving standard of living in China Japan and last but not least India and Pakistan, together they provide a great prospect I see this improving over extended period but the Cokes and the Mcd or Boeings will play a very important role, ofcourse in short term we will have all these up and downs. U.S. Stocks May Rise, Boosted by Optimism for 2nd-Half Profits 6/26/98 8:58- U.S. stocks are expected to rise, boosted by optimism that a growing economy with little inflation and low interest rates will boost corporate profits later this year.''The market's moving up to all-time highs, telling us that earnings are going to re-accelerate later this year,'' said Robert S. Robbins, market strategist at the Robinson-Humphrey Co. in Atlanta. Yesterday, a rally in stocks evaporated as large computer- related stocks fell, led by Intel Corp. and Microsft Corp., on renewed concern about profits for the computer industry's bellwethers. The Dow Jones Industrial Average rose 11.71 to 8935.58 and the Standard & Poor's 500 Index fell 3.60 to 1129.28. Still, Microsoft had risen 23 percent in less than two weeks, and the S&P 500 rose to a record Wednesday on higher-than- average volume. The higher prices lured pessimistic investors to sell, Robbins said. One indicator pointed to mixed share prices when trading opens. S&P 500 Index futures for delivery in September rose 0.70 to 1144.20, and September futures on the Dow industrials fell 10 to 9025. Adobe Systems Inc. may rise after the No. 1 maker of desktop software for sophisticated graphics said it earned more money than expected in its fiscal second quarter ended May 29. Adobe earned 43 cents a diluted share, down from 57 cents a share, excluding charges, a year earlier. Analysts expected 39 cents. The stock price already may reflect the good earnings. Adobe rose 2 5/16 to 44 3/8 yesterday in anticipation of the report, and added another 5/8 to 45 after the news came out after the close of trading on U.S. exchanges. Asyst Technologies Inc. may fall after it sees lower-than- expected revenue for the first quarter ending June 27 because of weakness in Asia. The maker of semiconductor materials-handling equipment also said it expects revenue next quarter to be lower than the first quarter. Asyst also said it plans to buy back up to 2 million shares of common stock from time-to-time in the open market. Caribiner International Inc. may fall after the event producer said earnings this quarter will be below analyst estimates. The company cited higher-than-expected costs in its audio-visual equipment services business, mostly because of problems integrating a company it acquired. Guarantee Life Cos. may fall after the life and health insurance company said it expects second-quarter earnings excluding investment gains to be about 15 cents to 20 cents a diluted share, well below analysts' estimates of 42 cents, according to a survey by First Call Corp. Guarantee Life said losses at its group dental business caused the shortfall. Rockwell International Corp. may gain on a Wall Street Journal report that the electronics maker plans to cut as much as 10 percent of its workforce, or 4,800 jobs. The report cited people close to the company. Rockwell shares rose 1 1/8 to 48 15/16 yesterday. Reports that two Japanese banks would merge fostered speculation that Japan may be taking action to overcome its banking crisis. The dollar fell from a one-week high against the yen as Sumitomo Trust & Banking Corp. confirmed it's in merger talks with financially troubled Long-Term Credit Bank of Japan Ltd. Cleaning up the Japanese financial industry is crucial to restoring confidence in the yen, analysts said. Banks are saddled with as much as 77 trillion yen ($550 billion) in problem loans. Until they clear up those loans, they're reluctant to lend more money, and that reluctance is hobbling Japan's economy. The weak yen hurts other Asian nations by making Japanese goods cheaper, and by reducing demand in Japan for imports. Overseas markets were lower. Britain's FT-SE 100 Index fell 0.08 percent, Germany's DAX Xetra index lost 0.3 percent and France's CAC 40 Index was little changed. Japan's Nikkei 225 Index rose 0.5 percent to 15,210.04, while Hong Kong's Hang Seng Index fell 0.7 percent to 8607.86.