To: Justa Werkenstiff who wrote (4260 ) 4/4/1999 5:41:00 PM From: Lars Read Replies (1) | Respond to of 15132
*** Market Summary *** 4/1/99 3/26/99 %Change S&P 500 1,293.72 1,282.80 +.85% Dow Jones 9,832.51 9,822.24 +.11% NASD Comp 2,493.37 2,419.21 +3.07% Russell 2000 398.74 393.92 +1.22% SOX Index 387.37 363.64 +6.53% Value Line 410.18 408.98 +.29% MS Growth 551.61 557.09 -.98% MS Cyclical 499.43 493.51 +1.20% T - Bill 4.30% 4.39% -9 BP Long Bond 5.67% 5.60% +7 BP Gold - Oz-Near Month $281.90 $279.70 +$2.20 Silver - Oz-Near Month $5.03 $5.09 -$.06 Economic News: *Federal Open Market Committee Meeting (FOMC) Leaves Rates Unchanged - Apparently No Bias - Serious Mistake Financial Market Inconsistencies Are Increasing *February New Home Sales fell -2.0% - Still Very Strong at 881,000 Annual Rate *Federal Reserve Open Market Committee (FOMC) Rates Unchanged - Widely Expected - See Below *Conference Board's Consumer Confidence rose to 133.9 in March - An eight month high, and five Consecutive monthly increases *March Chicago Purchasing Managers' Index rose to 57.0 From 52.9 in February and 47.1 in January - Big Gains *February Factory Orders fell -2.5% - But Without Volatile Transportation Sector Orders fell -.4% *Final 4th Qtr Gross Domestic Product +6.0% *Jobless Claims fell -6,000 to 289,000 as prior data Revised Up - Essentially Unchanged - Four Week Moving Average rose +250 to 293,750 *February Consumer Spending rose +.7% - Personal Income rose +.5% - Savings Rate slips *National Assn. of Purchasing Managers' Index for March rose to 54.3 from 52.4 in February *LABOR DEPARTMENT REPORT - Unemployment Rate drops to 4.2% - NonFarm Payrolls rise 46,000 - Soft - Average Workweek slips -.1 hr to 35.5 - Average Hourly Earnings rise +$.03/hr to $13.09