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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (15291)	1/12/1999 3:20:00 PM
From: MythMan	Read Replies (2) \| Respond to of 86076

a few things hitting the wire at once....hmmmmm >>Tuesday January 12, 3:00 pm Eastern Time Rubin Repeats Strong Dollar Good For U.S., Says Dollar Not A Trade Tool << >>Tuesday January 12, 3:00 pm Eastern Time Rubin Repeats U.S. Economy Heading For "Solid Growth"<< >>Tuesday January 12, 3:00 pm Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) U.S. bank, broker stocks weaken as Brazil falls NEW YORK, Jan 12 (Reuters) - U.S. bank and broker shares slipped on Tuesday amid renewed signs of economic and political trouble in Brazil, where U.S. financial institutions have sizeable operations, and profit-taking, analysts said. Brazilian markets were roiled after a large state within the country last week decided to halt payments on its debt to the central government. Some of this concern carried over to U.S. markets, knocking financial stocks off highs hit earlier in 1999. ''The Bovespa has been weak, and maybe we're worrrying about Brazil again...Frankly the (financial stocks) were really fast out of the gate when the year started so maybe it's a little bit of profit-taking,'' said David Berry, an analyst at Keefe, Bruyette & Woods Inc. Citigroup Inc. (NYSE:C - news) stock dipped 7/8 to 56-7/8, Chase Manhattan Corp. (NYSE:CMB - news) shares fell 2-1/8 to 74-1/8, BankAmerica Corp. (NYSE:BAC - news) eased 2-11/16 to 67-1/4, J.P. Morgan & Co. Inc. (NYSE:JPM - news) fell two to 112-7/16 and BankBoston Corp. (NYSE:BKB - news) dropped 1-2/16 to 38-1/16. Shares of Wall Street brokers also were soft. Morgan Stanley Dean Witter & Co. (NYSE:MWD - news) lost 3-13/16 to 83-11/16, selling off after a recent run-up triggered by strong quarterly earnings. Merrill Lynch and Co. Inc. (NYSE:MER - news) dipped 1-1/8 to 74-7/8, Lehman Bros. Holdings Inc. (NYSE:LEH - news) fell 1-15/16 to 52-5/8 and PaineWebber Group (NYSE:PWJ - news) lost 1-5/16 to 39-7/16. ''Things had gotten off to such a fast start this year, so there could be some profit-taking here,'' George Bicher, an analyst at Bankers Trust Alex. Brown said. ''The one purely fundamental thing you can point to is uncertainty in Brazil.'' <<