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To: Gary R. Owens who wrote (17378)	9/3/1998 1:28:00 PM
From: Ahda	Respond to of 117019

Not the reason as i view it as currency. George said dead cat bounce Could smart cats push a bounce? biz.yahoo.com NEW YORK, Sept 3 (Reuters) - The near-term corporate profit picture in the United States has dimmed as a result of the turmoil in the world's emerging economies, leading analysts to expect wafer-thin growth in earnings this quarter. The third quarter of 1998 is expected to produce profits growth of just 2.1 percent among companies in the Standard & Poor's 500 index, according to data from research tracking firm First Call. The index includes the nation's largest companies, which are the most exposed to international markets. The estimate is down sharply from earlier expectations. Earlier in the year, analysts had forecast double-digit earnings growth in the third quarter, and as recently as Monday the outlook stood at 3.5 percent.