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

To: IQBAL LATIF who wrote (24229)	3/18/1999 9:50:00 AM
From: IQBAL LATIF	Respond to of 50167

I raised in passing the other day that if not anything else soon they will start worrying about inflation .. nice to see that we read the market a bit early... www.quote.com just this am... While stocks are set to open slightly lower this morning, there is finally some good news out there that could motivate the bulls to jump back into the market. Overseas markets closed lower in overnight trading following a round of profit taking in Japan, which caused the Nikkei to drop 3.4% last night after running up 17% in the last two weeks. The weakness overseas, combined with concerns that rising oil prices could spark domestic inflation and a number of earnings warnings last night had analysts worried that DJIA(sm) 10,000 could have become a fading memory. However, favorable inflation data released this morning, rumors of mergers in the financial and a number of 2-for-1 stock-split announcements has renewed hopes that the DJIA(sm) could test 10,000 again in the next couple of days. Netscape Shareholders OK Merger Netscape shareholders voted overwhelmingly today in favor of a $9.6 billion deal to merge with America Online. But the real work in combining these very different companies is just starting. Some have feared that AOL's cautious corporate culture could snuff out the freewheeling creativity of Netscape. AOL's ability to soothe Netscape's coveted army of software designers is key to creating what could be a powerful new threat to Microsoft's computer software dominance. AOL becomes the distributor of Netscape's Internet browser software and adds the Netcenter Web site, giving it two of the four most popular Internet destinations. Also part of the deal, Sun Microsystems Inc., a maker of business software and computers, will distribute Netscape's corporate software for three years. Fed: Economic Growth Still Robust The robust economic growth of 1998 carried into the new year with strong consumer spending, brisk construction activity and increasing demand for labor, the Federal Reserve said today. Despite that, ''Prices of most goods remained little changed, and ... businesses remain reluctant to press for price increases,'' the central bank said in a survey of regional economic conditions before March 8. The report, known as the ''beige book,'' after the color of its cover, implies Fed policy-makers probably will opt for no change in interest rates when they meet March 30.