To: Sig who wrote (90093 ) 1/20/1999 8:44:00 AM From: Mohan Marette Respond to of 176387
Horny but good- USA account and MSFT to boost the market today. Sig: Did you listen to 'bubba' last night? The man might be horny but boy he is good in governing in my opinion.Hope the schumks in DC approve that USA account thing 'cos papa needs some new shoes.<vbg> =================================US stocks seen surging at open on buoyant earnings By Jennifer Shaw NEW YORK, Jan 20 (Reuters) - U.S. stocks were seen surging at Wednesday's open on buoyant earnings from Microsoft Corp. (Nasdaq:MSFT - news) and President Clinton's proposal to funnel up to $1.2 trillion in taxpayer dollars into the stock market over the next 15 years. ''Early runs of fourth quarter earnings are positive, and Microsoft blew out the doors,'' said Larry Wachtel, market analyst at Prudential Securities. But Wall Street will look over its shoulder at a key vote in Brazil and a speech by Fed Chairman Alan Greenspan. While Clinton's plan for social security and government-sponsored individual savings plans is seen running up against heavy resistance, his words were seen setting a bullish tone for stocks. The president's State of the Union address last night ''was full of a lot of goodies and very dynamic,'' said Peter Cardillo, director of Research Westfalia Investments. ''But the two key issues are Mr. Greenspan and the Brazil situation.'' Greenspan is to deliver a speech on the U.S. economy to the House of Representatives Ways and Means Committee at 1000 EST/1500 GMT. Investors will be watching for indications on what the Fed chief thinks about interest rates, the stock market's bull run, and Brazil's attempts to resolve its economic problems. The Brazilian congress votes Wednesday on a key fiscal bill, the passage of which is viewed as necessary to ease worries about Latin America's economic future. The bill, which proposes social security charges on retired civil servants' pensions, is a key revenue-raising element for President Fernando Henrique Cardoso's three-year program to slash the budget deficit. (Note: this article is ''in progress''; there will likely be an update soon.)