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by 11/15/2000 2:36 PM
Stocks quoted in this article:
At the conclusion of today's policy setting meeting, the Federal Open Market Committee decided to leave interest rates unchanged. Citing the potential for inflationary pressure, the FOMC also retained its tightening bias. In response to the news, the December S&P 500 Index futures contract (SP/ZO – 1393.50) shed roughly ten points and is currently moving into negative territory.<
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by 11/15/2000 1:30 PM
Stocks quoted in this article:
Semiconductor name Xilinx (XLNX – 70-3/8) is one of the top performers today in the PHLX Semiconductor Index (SOX – 710.8). XLNX is up over five percent thus far with the SOX up just over four- percent. XLNX has suffered along with the rest of the semiconductor group of late, losing over 23 percent from its October 4 intraday high of 91-15/16. XLNX has outperformed its peers in the SOX over the last six months however, losing only four percent since April 28 versus a 40-percent loss for the SOX.<
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by 11/15/2000 12:51 PM
Stocks quoted in this article:
The PHLX Wireless Telecommunications Index (YLS – 177.67) is working on its second consecutive up day. The YLS dipped to a new all-time low Monday, but rebounded today to gain over five percent. The YLS is an equally weighted index of 20 names involved in the wireless telecommunications industry. In today's action, the top gainers are RF Micro Devices (RFMD – 24-11/16) up 7.9 percent, Nextel Communications (NXTL – 36-9/16) up 5.0 percent, and Qualcomm (QCOM – 83-1/2) up 3.89 percent. The largest losers so far today are Nortel Networks (NT – 37-3/4), Verizon Wireless (VZ – 54-1/4), and Lucent Technologies (LU – 22-3/4). Currently the YLS has rallied to the site of its overhead converging 10-day and 20-day moving averages. If it is able to surpass that potential resistance the YLS may face another vigorous test at the 185 area, site of former support in late September and resistance in October. The index has managed only three intraday moves above its 20-day moving average since falling below it on July 27. During that time period, the YLS has lost nearly 23 percent.
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by 11/15/2000 9:55 AM
Stocks quoted in this article:
Analog Devices (ADI - 55-1/2) reported fourth-quarter results yesterday after the closing bell on Wall Street. ADI reported profits of 54 cents per share, exceeding the Street's estimate of 50 cents per share. The company also announced that it would buy back 15 million shares. The stock may be poised for a rally in today's trading. One key level to watch for ADI is 61. This marks the stock's overhead 20-day moving average, as well as yesterday's intraday high.
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by 11/15/2000 9:54 AM
Stocks quoted in this article:
Today we receive the latest installment in the epic saga that is FOMC monetary policy. The expectation is nearly unanimous that the board will make no change to short-term interest rates. Less certain is the tone of the adjoining comments that come with today's interest rate announcement.

Insurance stocks have shaken off the hawkish Fed so far in 2000. The S&P Insurance Index (IUX - 817.78) remains less than two percent off its all-time high logged last Friday. Year-to-date, the IUX is up 34 percent in a rally that has received rock-solid support from the 10-week moving average since April.
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