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

To: Brian Fukuba who wrote (19121)	7/31/1998 10:54:00 AM
From: IQBAL LATIF	Read Replies (3) \| Respond to of 50167

What a confusing number for a very confused market!-- Strong PMI, a weak quaterly GDP number first time in last three years and a very docile deflator-- all adds up to non-inflationary growth and also answers some worries about prospects of robust corporate profits. What does it all adds up to -- in face of recently concluded GM strike it all adds up to a good visiblitiy of corporate profits for next quarters- we have a slowing economy and GDP deflator lower than consensus at .8 signals no threat of inflation ( I think GDP deflator is even a better indicator than CPI)- If our suggestion of strong economy translates into strong numbers has any continued valididty and if this weakness stems from PMI- I would expect that market should take out this 1155-- and DJIA should after testing these panic lows my move above 9000. I need to test my logic and I would like to see how the market reacts to it now? Now if PMI is strong it camn be a very seasonal factor but it may give rise to interest rate hike talks and overheating but was this market not very worried about ASEAN slowdown just last week. Now NAPM assumes far greater importance but strong numbers in my opinion with crisis in ASEA and Japan bode well for the economy.

To: Brian Fukuba who wrote (19121)	8/3/1998 10:13:00 AM
From: Brian Fukuba	Read Replies (2) \| Respond to of 50167

Economic Calender: Personal Income 0.2%, PCE 0.6%, NAPM Index 49.1%, Construction Spending 1.7% Details: briefing.com Weekly Summary: moneynet.com Ideas Home Page: come.to Personal Income slows...doesn't stop spending: cbs.marketwatch.com WASHINGTON (CBS.MW) -- Personal spending rose 0.6 percent in June, much faster than the 0.2 percent rise in personal income. Meanwhile, the personal savings rate fell to 0.2 percent, its lowest level ever, the Commerce Department said Monday... bri