Ramsey
26-08-2002, Mon 9:28 AM
عن دواوجونز نيوزواير
US SUMMARY: Investors Take Some Profit In Equities
DJIA 8872.96 loss 180.68 dn 2.0%
NASDAQ 1380.62 loss 42.33 dn 3.0%
S&P 500 940.86 loss 21.84 dn 2.3%
NASDAQ Future 1014.50 gain 0.50 up 0.1%
S&P Future 943.30 gain 2.30 up 0.2%
10-Yr US Treasury: 4.24% down 0.06
NEW YORK (Dow Jones)--Wall Street retreated Friday and Treasurys rebounded. But it's too early to draw any conclusions.
STOCKS: The market's major indexes secured their third straight weekly advance, an accomplishment not seen in nine months.
But renewed questions about corporate impropriety, this time involving Citigroup and AOL Time Warner, pressured stocks Friday. So did news that two brokerages cut revenue estimates for several semiconductor companies.
For the week, the Dow gained 1.1%, the Nasdaq rose 1.4% and the S&P advanced 1.3%.
Still, analysts say the markets remain vulnerable to bursts of profit-taking until investors have more concrete evidence that a solid economic turnaround is under way. Questions also linger about corporate corruption, they said.
"The market is still working on building some confidence here. We don't have it yet," said Bob Dickey, managing director of technical analysis at RBC Dain Rauscher.
"People are looking ahead with fear to the months of September and October, which historically have not been good months for the market," he added. "But after June and July were deeply negative, I'm not sure if we're going to see any serious declines."
BONDS: Treasury prices rose Friday on weakness in equity prices and on buying related to options.
Treasury prices remain adrift of their recent highs amid signs that the equity and corporate bond markets are stabilizing.
However, credit concerns and fears over the outlook for the economy are still seen prevailing into September. So Treasurys are expected to retain a reasonable bid tone.
This week will bring several high-profile economic releases in the U.S., including home sales, consumer confidence, personal income and spending, and the Chicago Purchasing Managers Index.
Treasury will also auction a new two-year note next Wednesday, which is expected to total $27 billion, unchanged from July.
US SUMMARY: Investors Take Some Profit In Equities
DJIA 8872.96 loss 180.68 dn 2.0%
NASDAQ 1380.62 loss 42.33 dn 3.0%
S&P 500 940.86 loss 21.84 dn 2.3%
NASDAQ Future 1014.50 gain 0.50 up 0.1%
S&P Future 943.30 gain 2.30 up 0.2%
10-Yr US Treasury: 4.24% down 0.06
NEW YORK (Dow Jones)--Wall Street retreated Friday and Treasurys rebounded. But it's too early to draw any conclusions.
STOCKS: The market's major indexes secured their third straight weekly advance, an accomplishment not seen in nine months.
But renewed questions about corporate impropriety, this time involving Citigroup and AOL Time Warner, pressured stocks Friday. So did news that two brokerages cut revenue estimates for several semiconductor companies.
For the week, the Dow gained 1.1%, the Nasdaq rose 1.4% and the S&P advanced 1.3%.
Still, analysts say the markets remain vulnerable to bursts of profit-taking until investors have more concrete evidence that a solid economic turnaround is under way. Questions also linger about corporate corruption, they said.
"The market is still working on building some confidence here. We don't have it yet," said Bob Dickey, managing director of technical analysis at RBC Dain Rauscher.
"People are looking ahead with fear to the months of September and October, which historically have not been good months for the market," he added. "But after June and July were deeply negative, I'm not sure if we're going to see any serious declines."
BONDS: Treasury prices rose Friday on weakness in equity prices and on buying related to options.
Treasury prices remain adrift of their recent highs amid signs that the equity and corporate bond markets are stabilizing.
However, credit concerns and fears over the outlook for the economy are still seen prevailing into September. So Treasurys are expected to retain a reasonable bid tone.
This week will bring several high-profile economic releases in the U.S., including home sales, consumer confidence, personal income and spending, and the Chicago Purchasing Managers Index.
Treasury will also auction a new two-year note next Wednesday, which is expected to total $27 billion, unchanged from July.