Worries about earnings, labor costs, oil and credit quality will persist. So will the doubts that have arisen in recent months regarding the premises underlying the new economy and new investing paradigm. Arbeter would be encouraged by a Nasdaq bounce from the current 3450 to above 3535, the recent recovery high. Breadth has been better all of this year than last, thanks to strength in many second-tier issues.
Indications are that the economic soft landing remains on track.
We expect the Fed to start easing monetary policy in the second half of 2001. Earnings growth is slowing, but that won't necessarily keep the market from advancing. Bid on or offer business services Web design, logo design, computer consulting, and more. Business Week Online may receive a share of any fees you pay for services. The McGraw-Hill Companies Inc. All rights reserved.