If the economy surges ahead, the Feds raise interest rates and stock prices will fall. San Francisco Federal Reserve President Robert Parry said that it is premature for the Fed to declare victory in its war on inflation and this was interpreted to mean the Fed does have an interest rate hike bias going into their June meeting after all. The latest odds from Fed watchers had been for the Fed to sit tight this month. In fact, Wall Street's little summer rally was largely based on the assumption of no more rate hikes till after the US Presidential election in November. A mixed session with some positive hints, especially in breadth.
Productivity is the economy's most important tool for combating inflation.
The Mac Observer Stock Watch Virtual Portfolio had a weak day along the general softness on the Nasdaq. Motorola inaugurated a new business unit named Worldwide Interactive Systems to aid in acquisitions in the global broadband cable networking market. Intel had a weak day as news broke that its Timna microprocessor will be late to the market in 2001 because of a faulty memory component. For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report . We carry RAM for every Mac.