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Message subject : Market Preview For Next Week(USA)
This message was posted by Arnie on July 15, 2000 :
Market Preview For Next Week
Corporate earnings are expected to dominate the markets next week as about
200 S&P companies report. Analysts anticipate second-quarter tech earnings
to increase by an average of 25% from the year-ago period. The busiest day
will be on 'Super Tuesday'. Some notable tech names reporting include
Microsoft [MSFT] and Intel [INTC] on Tuesday, EMC Corp. [EMC] on Wednesday
and Lucent [LU] on Thursday. Apple Computer [AAPL], IBM [IBM] and Sun
Microsystems [SUNW] are also expected to report next week. These stocks
could move higher leading up to the announcements.
Fed Chairman Alan Greenspan's Humphrey-Hawkins Testimony before Congress
begins on Thursday and continues into Friday. This is the venue for
Greenspan to indicate his policy intentions. The markets could move on what
the Fed Chairman says, or doesn't say.
Anadarko Petroleum [APC] after Friday's close said it expects second and
third-quarter earnings will come in well above analysts' estimates.
Word On The Street
"Earnings have been pretty good. The economic reports that came out were
pretty benign. They raise questions as to whether the Fed will need to
raise rates again in August," says Arnie Owen, managing director of capital
markets at Roth Capital Partners.
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