Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: kathyh who wrote (47273)	6/1/1999 10:35:00 AM
From: Junkyardawg	Respond to of 90042

Something is going on with BIDS this morning. I got back in. It is looking strong on a down day for the nuts. dawg

To: kathyh who wrote (47273)	6/1/1999 10:35:00 AM
From: JeffA	Respond to of 90042

This is the explanation I wanted. Following are analysts comments on the report: JAMES VOLK, CO-DIRECTOR OF INSTITUTIONAL TRADING AT D.A. DAVIDSON & CO. ''The NAPM was higher than expected plus you've got pressure on the futures. The prices paid component was one more reason they are hitting the bonds.'' A.C. MOORE, CHIEF INVESTMENT STRATEGIST AT DUNVEGAN ASSOCIATES: ''This is worse than we expected. We looked for a 54 percent level. It is having a depressing impact on fixed income and (I) see further downticks for stocks this morning. The inflation watch is key for financial market performance currently. This is not a helpful number.'' BARRY HYMAN, MARKET STRATEGIST AT EHRENKRANTZ, KING & NUSSBAUM ''The likelihood of inflationary pressures is increasing. The likelihood that the Fed is going to do something is increasing. One more number in the employment report on Friday and the Fed will probably react.'' HUGH JOHNSON, CHIEF INVESTMENT OFFICER AT FIRST ALBANY CORP: These are not good numbers. They indicate that the manufacturing sector of the economy is strengthening (and) that deliveries are slowing, which may be a sign of bottlenecks which may lead to upward pressure on prices. This raises the chance that the Fed will raise short-term interest rates. Simply stated, this is not good news. The Dow Jones industrial average fell to a session low 10,440 after the report before steadying and holding at about 10,450, off 110 points on the day. The benchmark 30-year U.S. Treasury also extended its losses after the NAPM report, moving down 26/32 to yield 5.89 percent.