From: Forrest Bishop (forrestb@ix.netcom.com)
Date: Sun Apr 30 2000 - 04:53:12 MDT
> This appears to be a Reuters news release for May 14th!
> from:
> http://biz.yahoo.com/rf/000429/d.html
>
> The Fed meets on *Teusday, May 16th*.
> ============
> Saturday April 29, 6:14 am Eastern Time
>
> UK Stocks Outlook-Market braces for U.S. rate vote
>
> By David Holmes
>
> LONDON, May 14 (Reuters) - It was ever thus.
> Yet Friday's stronger-than-expected U.S. inflation data brought those fears
> sharply to the fore, contradicting benign data earlier in the week and
> heightening the
> prospect that Tuesday's Fed meeting will have to consider a rate move.
Two pieces of information are here that can influence a trader's decision-
the "benign data earlier in the week", and the "stronger-than-expected US
inflation",
which of course is a HUGE advantage to have ahead of time.
Maybe Holmes wrote four different versions just in case?
> Yet even before Friday's strong U.S. inflation figures, the record-breaking run
> enjoyed by the FTSE 100 in the early months of the year seemed to have run into
> the
> sand.
>
> Since the end of March, the leading FTSE 100 index has spiked to a record high
> of 6,663.8, but has mostly traded in a range broadly between 6,300 and 6,600 in
> that time.
So the FTSE would have to stay within this range for the next two weeks-
"mostly"?
> Analysts on Friday warned it was hard to see what fresh positive events would
> have the power to move the UK market on to fresh highs, with the FTSE 100
> looking
> expensive on a near-record high multiple of around 28 times earnings.
What analysts?
> Betting on the direction of such stocks therefore depends crucially on how Wall
> Street reacts to the Fed's decision next week.
It also depends crucially on having information ahead of anyone else.
I am of course not accusing the Fed of being unusually corrupt here.
-- Forrest Bishop Manager, Interworld Productions, LLC Chairman, Institute of Atomic-Scale Engineering http://www.speakeasy.org/~forrestb
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