TheLascone's MarketNews · THE NEWS THAT YOU CAN BENEFIT FROM
The average American household spends 13% of it's income to pay
debts - the highest percentage in 20 years.
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WEEK IN REVIEW:
Wall Street was concerned that a 500K barrel-per-day increase in
OPEC output still would not be enough to offset inadequate refining
capacity and the growing demand for gasoline heading into the summer
driving season... But consolidation of gains in oil heading into the
close,and the absence of earnings and economic data , provided just
enough of a spark to improve sentiment and help the Dow start off
the week with a positive close.
The price of Oil has been controling the direction of the stock
market again ....Roughly two hours before the close of trading,
Mr.Greenspan spoke to a petrochemical conference... While he said
that falling energy use is "virtually inevitable" and that the
world's refining capacity remains "worrisome," the absence of any
comments regarding monetary policy or oil's impact on economic
growth, failed to more persuasively push equities or bonds in either
direction... This news dropped the price of Oil and helped the Dow
close up 37 points for the day.
A 3.1% sell off in crude oil futures ($54.11/bbl -$1.74), amid signs
that refiners will increase operating rates (above 93.7%) in order
to boost gasoline stockpiles, mitigated worries about inflation and
potential pressure on corporate profits heading into earnings
season... The day ended with Blue chips higher for the fourth
straight day .
After four days of gains for most of the averages , the market
stalled out after a minor early rally attempt. We then had profit
taking the rest of the day. Volume was below average in recent
sessions and Friday's pace was even slower. The weakest sectors on
Friday included: Transportation -2.6%, Steel -2.1%, Healthcare -
1.3%, Natural Gas -1%, Chemical -1%, Oil Service -0.9%, Retail -
0.8%.
The Dow Jones industrial average fell 84.98, or 0.81 percent, to
10,461.34. Broader stock indicators also lost ground. The Standard &
Poor's 500 index was down 9.94, or 0.83 percent, at 1,181.20, and
the Nasdaq composite index lost 19.44, or 0.96 percent, to 1,999.35.
Despite Friday's losses, all three indexes finished the week higher
for the first time since March 4, buoyed by the largest weekly
decline in oil prices since Decenber. For the week, the Dow rose
0.55 percent, the S&P 500 climbed 0.71 percent and the Nasdaq gained
0.73 percent.
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MUTUAL FUND FLOW :
Apr 06- Equity Fund Inflows $1.2 Bil; Taxable Bond Fund Inflows $60
Mil
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Good looks rewarded with better pay
Research shows it helps in the job market to be tall, slim and
attractive.
The researchers cited one study that found a "plainness penalty" of
9 percent in wages - meaning a person with below-average looks
tended to earn 9 percent less than those with average looks - and
a "beauty premium" of 5 percent.
A study concerning weight showed that women who were obese earned 17
percent lower wages than women of average weight.
Height matters, too, the researchers believe. One study looked at
the height of 16-year-olds and the wages they earned later as
adults. The taller teens went on to earn an average of 2.6 percent
more per additional inch of height. The researchers also cited a
survey showing that the average chief executive is 3 inches taller
than the average man. While a typical American male stands 5-foot-9
the study found that about one-third of CEOs are 6-foot-2.
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Pasta Pasta
The low-carb craze has hurt many American food stocks. The
Turnaround Letter recently recommended seven that have been
significantly affected while they were simultaneously attempting to
alter their operations. The seven: American Italian Pasta, Campbell
Soup, Kraft Foods, Krispy Kreme, Monterey Pasta, Panera Bread, Tasty
Baking."
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As Heard & Seen in The Market Vu Show's "InnerVu"
marketprofiler: "weird wally wednesday" tomorrow...wed before opt
exp week...will be volatile and fast and furious tomorrow
TheLascone: Philly stock exchange has been evacuated - smoke on the
trading floor ,,, Cheech and Chong shooting a movie .. ?
MrMustafaCamel : reserves up 5.4 mln barrels .. oil down $1.20
prestwickdrive : ES 80% rule fulilled if it hits 1182.5
Rick_MA : YM and Dow are much closer to filling recent gap and much
weaker than ES, FYI >>>>>>>!
bob : Does Merrill prentend to be buying while having someone else
do the selling?
Market_"INNER_VU: Trading Pits only 1/8 full according to Paul from
xSquawk
Bestrades : excellent profits already on the day .. so will not
loose it back and will keep it close
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... GOOD LUCK MARKETTRADERS