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by 6/30/2000 9:51 AM
Stocks quoted in this article:
The Commerce Department released the May personal income and spending results this morning. Personal income and consumer spending posted modest gains of 0.4 percent and 0.2 percent, respectively. Analysts' expectations called for 0.2-percent increases in both measures. Personal savings, however, rose from 0.4 percent in April to 0.6 percent in May. In addition, the implicit price deflator, which is one of the Federal Reserve's favorite measures of inflation, remained unchanged for the second consecutive month. Today's results continue to bolster the argument that the Federal Reserve's interest-rate increases are beginning to have their desired effect of slowing the economy.
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by 6/30/2000 8:56 AM
Stocks quoted in this article:
The late-session weakness in the U.S. equities yesterday has not hurt global markets. Fourteen of 18 world markets are higher thus far. On average, overseas markets rose 0.96 percent. The top four major markets and their respective returns are: Finland (HEXND - 15097), up 5.69 percent; Sweden (AFFND - 5721), up 2.03 percent; Denmark (CSIND - 286.99), up 1.64 percent; and Australia (SYIND - 3258), up 1.62 percent. The bottom four major markets and their respective returns are: Hong Kong (HKIND - 16156), down 0.80 percent; Singapore (SIIND - 2038), down 0.57 percent; Japan (NIKKEI - 17411.1), down 0.37 percent; and Japan (TOPIX - 1591.6), down 0.19 percent.
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by 6/29/2000 3:35 PM
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The restructuring committee for insolvent Korean auto maker Daewoo Motor has chosen Ford Motor (F - 43-5/8) to be the exclusive bidder to take over the company. F's $6.9 billion offer beat out rival bidder General Motors (GM - 60-1/16). F is now free to negotiate directly with Daewoo's creditors regarding terms of the takeover. This news has given F shares a boost this afternoon. The stock is currently up almost four percent in late trading. However, today's rally has run squarely into resistance at the equity's sharply downtrending 10-day moving average.
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by 6/29/2000 3:35 PM
Stocks quoted in this article:
Global Marine (GLM - 29-3/16) has headed higher today along with other oil-related equities. GLM has been a steady trender, rallying steadily along its 10-week moving average for a 108-percent gain from its mid-December lows. It appears that a 4,000-contract spread was initiated between the in-the-money July 27-1/2 call and the out-of-the-money July 30 call. The trade on the in-the-money strike went off close to the ask, while the out-of-the-money option transacted near the bid. <
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by 6/29/2000 3:05 PM
Stocks quoted in this article:
With the Nasdaq Composite (COMP - 3890.1) down 1.27 percent and the S&P 500 Index (.SPX - 1445) down 0.67 percent today, the sector indices are seeing mixed activity, with 13 of 35 in positive territory. Among the indices we follow, three hit new annual highs today and one hit a new annual low. The top four performing indices today are the PHLX Oil Service Sector Index (OSX - 122.85), up 3.7 percent; the Morgan Stanley Healthcare Payors Index (HMO - 320.31), up 3.2 percent; the AMEX Pharmaceutical Index (DRG - 413.7), up 1.9 percent; and the AMEX Securities Broker/Dealer Index (XBD - 506.45), up 1.7 percent. The four indices showing the most weakness are the PHLX Gold and Silver Index (XAU - 57.04), down 3.7 percent; the GSTI Hardware Index (GHA - 561.31), down 3.6 percent; the PHLX Semiconductor Index (SOX - 1127.7), down 3.6 percent; and the AMEX Biotechnology Index (BTK - 656.8), down 3.3 percent.
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