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发帖数: 5697 | 1 https://money.cnn.com/2000/04/14/markets/markets_newyork/
Economic data sparks sell-off
Analysts said a move by the Federal Reserve to aggressively implement
rate hikes could strengthen inflationary fears in an already unnerved market
. The Federal Reserve has raised interest rates five times since last June -
- each time just a quarter point -- bringing its benchmark Fed funds lending
rate to 6 percent.
Aggressive sell-offs on the Nasdaq had attracted buyers over the past
few months but pervasive nervousness has sent investors running for the
sidelines. So far in April, they have sold into any strength and refused to
buy on the dips.
"The question becomes, when exactly does the U.S. have an inflationary
market," Jim Bianco, president and research director of BiancoResearch.com,
told CNNfn's Before Hours. "We've got almost a nine-year high in the
inflationary market."
In Friday's major economic indicator, consumer prices jumped 0.7 percent
in March, or 0.4 percent excluding often-volatile food and energy prices,
according to the Commerce Department. The overall rise was the biggest since
April 1999 and exceeded Wall Street forecasts.
Strong earnings not enough to attract buyers
Bank stocks, which rallied earlier in the week after some strong
earnings reports, were among the biggest losers. J.P. Morgan (JPM: Research
, Estimates) slid 9-7/16 to 122-1/16, Citigroup (C: Research, Estimates)
lost 4-13/16 to 57-3/4, and American Express (AXP: Research, Estimates)
dropped 12-1/4 to 133-3/4.
Solid earnings have lifted individual stocks, but failed to support
entire sectors, causing wild sell-offs instead of attracting a surge of
bargain hunters. "One stock's good earnings isn't going to be enough to save
the day," Larry Wachtel, market analyst with Prudential Securities, told
CNNfn's market coverage.
Sun Microsystems (SUNW: Research, Estimates) rose 1/4 to 78 after
reporting third-quarter earnings that rose 44 percent to 26 cents a share,
up from the year-ago's 18 cents, and exceeding the expected 23 cents.
But other technology leaders didn't benefit from Sun's positive results.
Cisco Systems (CSCO: Research, Estimates) fell 4-1/8 to 57, Dell (DELL:
Research, Estimates) dropped 4-1/16 to 47-5/8, and Oracle (ORCL: Research,
Estimates) shed 9-7/16 at 62-1/2.
Still, Peter Cardillo, director of research at Westfalia Investments,
said the worst may be over. (229K WAV) (229K AIFF). | G*********e
发帖数: 2091 | 2 不错。很有参考价值
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【在 c******n 的大作中提到】
: https://money.cnn.com/2000/04/14/markets/markets_newyork/
: Economic data sparks sell-off
: Analysts said a move by the Federal Reserve to aggressively implement
: rate hikes could strengthen inflationary fears in an already unnerved market
: . The Federal Reserve has raised interest rates five times since last June -
: - each time just a quarter point -- bringing its benchmark Fed funds lending
: rate to 6 percent.
: Aggressive sell-offs on the Nasdaq had attracted buyers over the past
: few months but pervasive nervousness has sent investors running for the
: sidelines. So far in April, they have sold into any strength and refused to
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