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Strategies & Market Trends : the Women of SI -- Ignore unavailable to you. Want to Upgrade?

To: Rainy_Day_Woman who wrote (708)	4/6/1999 9:27:00 AM
From: Rainy_Day_Woman	Read Replies (1) \| Respond to of 1691

Dow -- at 10K -- seen catching its breath at open By Jennifer Shaw NEW YORK, April 6 (Reuters) - U.S. market bulls could cool their heels at Tuesday's open after charging to new records on Monday. Wall Street wonders if the blue chips can remain over 10,000. ''The Dow has closed twice above 10,000 and crossed it three times so the question now is staying above it,'' said Larry Wachtel, market analyst at Prudential Securities. The Dow rose 174.82 points on Monday, or 1.78 percent, at 10,007.33, surpassing the record finish of 10,006.78 set just last Monday, when it ended over 10,000 milestone for the first time. The rally occurred after the March employment report, released last Friday, showed the economy may be slowing enough to keep the Federal Reserve from raising interest rates. A spate of economic data due this morning is not expected to rock the boat. February leading economic indicators are due at 1000 EDT/1400 GMT, as are February wholesale inventories. ''I don't think (the data are) going to have much of an effect. The big number will be (Friday's) Producer Price Index,'' said Peter Cardillo, director of research at Westfalia Investments. He added, ''We are looking at a flat opening right now but then I think the rally could continue.'' With the first quarter earnings-reporting period just around the corner, earnings warnings could put a damper on Gillette Co. (NYSE:G - news). On Monday the maker of razors, Duracell batteries and other products said first quarter earnings per share would miss Wall Street estimates by 1 cent but remain above year-ago results. Gillette shares closed at 57-5/8 on Monday. ''Obviously, there's some profit-taking coming, and Gillette's revision is going to be a problem,'' Wachtel said. (