Ramsey
09-09-2002, Mon 9:22 AM
عن دواوجونز نيوزواير
US SUMMARY: Stocks Rally, But Doubts Remain
DJIA 8424.20 gain 143.50 up 1.7%
NASDAQ 1295.30 gain 44.30 up 3.5%
S&P 500 893.92 gain 14.77 up 1.7%
Dow Future 8410 loss 23.00 dn 0.3%
NASDAQ Future 919.00 loss 1.50 dn 0.2%
S&P Future 891.60 loss 2.70 dn 0.3%
10-Yr US Treasury: 4.03% up 0.12
NEW YORK (Dow Jones)--Stocks rebounded Friday after a report on the nation's unemployment showed unexpected improvement, while prices of Treasurys sank in response.
STOCKS: The Dow Jones industrials climbed more than 140 points, erasing a sharp decline Thursday attributed to bad economic news, including sluggish productivity growth and disappointing retail sales.
"The situation overall, while not terrific, is better than some had feared," said Brian Bush, director of equity research at Stephens Inc.
Friday's gains capped a tumultuous week on Wall Street, with the Dow alternating triple-digit winning sessions with triple-digit losing sessions.
"Investors just can't seem to make up their minds," said Brian G. Belski, fundamental market strategist at US Bancorp Piper Jaffray. "Volatility continues to reign supreme."
Driving Friday's increases was a government report showing that the country's unemployment rate fell to 5.7% in August and companies added 39,000 new jobs, the fourth consecutive monthly increase. Analysts had expected the rate to stay at 5.9% or edge up slightly for August.
For the time being, "it's going to be a very bumpy ride," said Brian Bruce, director of global investments at PanAgora Asset Management.
Shares of Intel rose 7.4% after the chip maker lowered its third-quarter sales estimates late Thursday, but not by as much as Wall Street had feared.
BONDS: Treasury prices were sharply lower in late trade Friday, with losses led by the two-year note as the market adjusted its view of a near-term interest rate cut by the Federal Reserve.
Treasurys sold off sharply on firmer-than-expected August payrolls data, and a solid rally in equity prices.
"The data tell us that the economy is experiencing a modest recovery which counteracts market fears of a double-dip recession," said Kevin Flanagan, fixed-income strategist at Morgan Stanley in Jersey City, N.J.
US SUMMARY: Stocks Rally, But Doubts Remain
DJIA 8424.20 gain 143.50 up 1.7%
NASDAQ 1295.30 gain 44.30 up 3.5%
S&P 500 893.92 gain 14.77 up 1.7%
Dow Future 8410 loss 23.00 dn 0.3%
NASDAQ Future 919.00 loss 1.50 dn 0.2%
S&P Future 891.60 loss 2.70 dn 0.3%
10-Yr US Treasury: 4.03% up 0.12
NEW YORK (Dow Jones)--Stocks rebounded Friday after a report on the nation's unemployment showed unexpected improvement, while prices of Treasurys sank in response.
STOCKS: The Dow Jones industrials climbed more than 140 points, erasing a sharp decline Thursday attributed to bad economic news, including sluggish productivity growth and disappointing retail sales.
"The situation overall, while not terrific, is better than some had feared," said Brian Bush, director of equity research at Stephens Inc.
Friday's gains capped a tumultuous week on Wall Street, with the Dow alternating triple-digit winning sessions with triple-digit losing sessions.
"Investors just can't seem to make up their minds," said Brian G. Belski, fundamental market strategist at US Bancorp Piper Jaffray. "Volatility continues to reign supreme."
Driving Friday's increases was a government report showing that the country's unemployment rate fell to 5.7% in August and companies added 39,000 new jobs, the fourth consecutive monthly increase. Analysts had expected the rate to stay at 5.9% or edge up slightly for August.
For the time being, "it's going to be a very bumpy ride," said Brian Bruce, director of global investments at PanAgora Asset Management.
Shares of Intel rose 7.4% after the chip maker lowered its third-quarter sales estimates late Thursday, but not by as much as Wall Street had feared.
BONDS: Treasury prices were sharply lower in late trade Friday, with losses led by the two-year note as the market adjusted its view of a near-term interest rate cut by the Federal Reserve.
Treasurys sold off sharply on firmer-than-expected August payrolls data, and a solid rally in equity prices.
"The data tell us that the economy is experiencing a modest recovery which counteracts market fears of a double-dip recession," said Kevin Flanagan, fixed-income strategist at Morgan Stanley in Jersey City, N.J.