Board-Ansicht
Mix-Ansicht- Close Dow +163.37 at 10898.34, Nasdaq +52.01 at 2168.25, S&P +16.99 at 1266.45: - Der letzte Grund, 02.05.2001, 09:29
Close Dow +163.37 at 10898.34, Nasdaq +52.01 at 2168.25, S&P +16.99 at 1266.45:
Impressive day for the bulls today. The NAPM index, an important economic indicator for the Fed, rose slightly to 43.2%, a bit weaker than the consensus estimate of 44.0% and roughly flat with the March reading of 43.1%. April marked the third consecutive rising month which supports the argument that we have seen a bottoming in the NAPM. As a result, the data tilts the pendulum more towards a 25 bp from a 50 bp easing at the May 15 FOMC meeting. Briefing.com continues to forecast a 50 bp ease, but that could change with Friday's employment report. Prices paid index fell to 48.9% from 49.9%, which is good news on the inflation front. Not surprisingly, employment index fell to 38.1% from 40.4%, increasing the probability of another payroll decline in Friday's report, which will be another key report for the Fed...This afternoon's surge in the indices was encouraging because investors were willing to shrug off the impact of the NAPM data on interest rates, and bid up stocks...Working as a catalyst in the afternoon was a report that House and Senate negotiators have reached a tentative deal on a $1.35 tln tax cut plan which includes a $100 bln retroactive cut this year. This latter part is bullish for the market as it helps the sentiment that we will avoid a recession in the second half of the year....Most sectors were strong today. Other than chip equipment stocks, techs were the impetus for the rally. SG Cowen made some very bearish comments on orders at AMAT today. Even PC stocks ignored bearish comments from Merrill Lynch, which reduced estimates for Dell (DELL 25.76 -0.48) as firm expects next couple of qtrs to prove challenging. Also doing well were the brokerages, banks, telecom, retail and biotech sectors....Homebuilders were under pressure today despite a merger between Pulte Homes (PHM 42.50 -4.28) and Del Webb (WBB 38.40 +4.60) to create the nation's largest homebuilder...The Dow was as impressive as the Nasdaq thanks in large part to a positive earnings announcement from Procter & Gamble (PG 64.18 +4.13). Other big Dow winners include HD, MO, T, and SBC. In fact, Philip Morris (MO 52.10 +1.99) set a new 52-wk high today....It's days like today that are the best evidence that the bear is dead. Investors/traders are clearly more comfortable buying on the dips. DJTA -0.4%... DJUA -0.4%... SOX +0.6%... XOI -0.1%... BTK +0.7%... Nasdaq 100 +3.5%... S&P Midcap 400 +0.8%... Russell 2000 +1.1%... NYSE Adv/Dec 1873/1177... Nasdaq Adv/Dec 2340/1496.
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