A Cisco spokeswoman declines to comment, although the rumor appears to be making its way around Internet chat rooms as well. The analyst noted that visitation and occupancy rates in Las Vegas declined in February and Las Vegas casino hotel operators are seeing a slowdown in other Nevada markets. Second quarter earnings are looking bleak for brokerage firms. We find intriguing the potential outcome a few years down the road, but the interim journey looks hauntingly similar to the wandering trek of the last two years. The Economic Cycle Research Institute's weekly leading indicator index moved up for the third week in a row in the week ended April 27.
Conditions are less bad.
All 21 primary dealers surveyed by Dow Jones Newswires expect 50 BP rate cut on May 15. Stock futures saw some strong dealer buying recently, helping them amass solid gains. Dealers' presence makes it likely that some of the morning's gains will stay intact. In Nasdaqs, ABN Amro was a buyer, Merrill was buyer of 200-300 contracts. A Cisco official declined to comment on market rumors.