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

To: Rainy_Day_Woman who wrote (741)	4/27/1999 9:12:00 AM
From: Rainy_Day_Woman	Read Replies (2) \| Respond to of 1691

NEW YORK, April 27 (Reuters) - U.S. stocks are expected to open higher Tuesday with blowout earnings reports from phone giant AT&T (T - news) and Internet high-flyer eBay (EBAY - news) fueling a bull run. ''It's a great day,'' said Arthur Hogan, market analyst at Jefferies & Co. ''AT&T blew them away and eBay also blew past expectations.'' AT&T Corp., the largest U.S. phone company, said its first quarter profits rose 39 percent from a year earlier, beating analysts' estimates. The tech-laden Nasdaq composite index could get a boost from news that online auction house eBay Inc. earnings rose tenfold in the first quarter. The Nasdaq index closed at a record-high 2652.05 on Monday, up 2.4 percent, or 61.36 points. Telecommunications shares could get a lift from news that Comcast Corp. (CMCSA - news) is considering teaming up with Microsoft Corp. (MSFT - news) or America Online Inc. (AOL - news) in its battle with AT&T to acquire MediaOne Group Inc. (UMG - news), said Hogan. Higher stock prices in Europe and in Asia could aid the upward trend in the U.S. ''We haven't had any bad news. That's going to help,'' said Thom Brown, managing director at Rutherford, Brown & Catherwood. At 0725 EDT/1125 GMT, June S&P 500 futures were up 7.30 points, indicating a higher open on the Dow. ''The futures are just cranking away,'' said Hogan. ''It's all great news. You just can't keep a good market down.'' U.S. technology stocks pushed the market higher Monday amid optimism about the personal computer and Internet industries. The Dow Jones industrial average rose 28.92 points, or 0.27 percent, to 10,718.59, with its biggest gain coming from International Business Machines Corp. (IBM - news). The strength of the bull market has stunned analysts. ''I've given up guessing,'' said Rutherford's Brown. If you went on the basis of rational thought, we'd think the market is in for a real downer. But there doesn't seem to be any rational thought left."