Ramsey
12-08-2002, Mon 9:27 AM
عن دواوجونز نيوزواير
US SUMMARY: Stocks Pause Before Fed, Treasurys Gain
DJIA 8745.45 gain 33.43 up 0.4%
NASDAQ 1306.12 loss 10.40 dn 0.8%
S&P 500 908.64 gain 3.18 up 0.4%
Dow Future 8680.00 loss 45.00 dn 0.5%
NASDAQ Future 932.00 loss 7.00 dn 0.8%
S&P Future 902.50 loss 5.30 dn 0.6%
10-Yr US Treasury: 4.27% down 0.07
NEW YORK (Dow Jones)--Shares ended mostly higher while Treasury bonds gained amid speculation over whether the U.S. Federal Reserve will cut rates this week.
STOCKS: Investors, after the market's huge three-day rally, refrained from making major moves Friday, although their confidence improved somewhat.
"There are a number of issues that are giving investors a little more confidence about putting their money to work in stocks," said Charles G. Crane, strategist for Victory SBSF Capital Management. "I think there is a realization that earnings, while maybe not on a rocket ship trajectory, are trending up."
"As simple and basic as it sounds, the market has some positive momentum. It always swings on emotion," said Tony Cecin, director of institutional trading at US Bancorp Piper Jaffray in Minneapolis.
Investors hope the Federal Reserve will cut interest rates, either at this week's meeting or in September, to keep the economy from falling back into recession.
US Airways Group Inc., hit hard by slumping travel after the Sept. 11 terrorist attacks, filed for Chapter 11 bankruptcy protection Sunday, the company said.
BONDS: U.S. Treasurys were mostly higher in price Friday, with long maturities rising much more than short maturities, as many bond-market participants reversed bets that the Federal Reserve will cut interest rates when it meets this week.
The action significantly flattened the Treasury yield curve, as short rates rose while long rates fell.
In recent weeks, some prominent economists and investors had come to expect that renewed signs of economic weakness would prompt the Fed to cut rates. But more recently, news reports suggested the Fed will leave rates the same when it meets Tuesday.
"The hope for Fed easing is fading," said David Coard, head of fixed-income trading at Williams Capital Group in New York.
US SUMMARY: Stocks Pause Before Fed, Treasurys Gain
DJIA 8745.45 gain 33.43 up 0.4%
NASDAQ 1306.12 loss 10.40 dn 0.8%
S&P 500 908.64 gain 3.18 up 0.4%
Dow Future 8680.00 loss 45.00 dn 0.5%
NASDAQ Future 932.00 loss 7.00 dn 0.8%
S&P Future 902.50 loss 5.30 dn 0.6%
10-Yr US Treasury: 4.27% down 0.07
NEW YORK (Dow Jones)--Shares ended mostly higher while Treasury bonds gained amid speculation over whether the U.S. Federal Reserve will cut rates this week.
STOCKS: Investors, after the market's huge three-day rally, refrained from making major moves Friday, although their confidence improved somewhat.
"There are a number of issues that are giving investors a little more confidence about putting their money to work in stocks," said Charles G. Crane, strategist for Victory SBSF Capital Management. "I think there is a realization that earnings, while maybe not on a rocket ship trajectory, are trending up."
"As simple and basic as it sounds, the market has some positive momentum. It always swings on emotion," said Tony Cecin, director of institutional trading at US Bancorp Piper Jaffray in Minneapolis.
Investors hope the Federal Reserve will cut interest rates, either at this week's meeting or in September, to keep the economy from falling back into recession.
US Airways Group Inc., hit hard by slumping travel after the Sept. 11 terrorist attacks, filed for Chapter 11 bankruptcy protection Sunday, the company said.
BONDS: U.S. Treasurys were mostly higher in price Friday, with long maturities rising much more than short maturities, as many bond-market participants reversed bets that the Federal Reserve will cut interest rates when it meets this week.
The action significantly flattened the Treasury yield curve, as short rates rose while long rates fell.
In recent weeks, some prominent economists and investors had come to expect that renewed signs of economic weakness would prompt the Fed to cut rates. But more recently, news reports suggested the Fed will leave rates the same when it meets Tuesday.
"The hope for Fed easing is fading," said David Coard, head of fixed-income trading at Williams Capital Group in New York.