| [ economics ] in KIDS 글 쓴 이(By): Blaze (7th dwarf) 날 짜 (Date): 1999년 8월 1일 일요일 오후 09시 31분 09초 제 목(Title): 혹시 투자에 도움 될까 해서..첫번째 기사. Rate fears keep broad market in check One culprit for Wall Street's waning demand for technology shares was the threat of rising U.S. interest rates ahead. Higher rates will hurt the growth prospects of technology companies that rely heavily on borrowing for expansion capital, rendering the sector less attractive to investors. The market also shunned shares of financial-services firms amid lingering concerns that rising interest rates are on the way. Higher rates would bite into demand for loans by making borrowing more expensive, cutting into the income of banks and other large lenders. On the Dow, shares of American Express (AXP) tumbled 6-13/16 to 131-3/4 and J.P. Morgan (JPM) lost 2-3/4 to 127-7/8. Elsewhere in the sector, First Union (FTU) , which named a replacement for its retiring president Friday, gave up 2 to 46. Automotive stocks drove into the red as DaimlerChrysler (DCX) extended its slide into a second day. The German-American carmaker suffered three downgrades a day after reporting disappointing second-quarter earnings, causing its American depositary receipts to plunge 5-3/16 to 72-3/8. Merrill Lynch cut the company's near-term outlook to "neutral" from "buy" and Deutsche Banc Alex. Brown lowered the stock's rating to "market perform," also from "buy." Warburg Dillon Read downgraded the stock to "buy" from "strong buy." Other automakers suffered on concerns that higher rates will make it more difficult for consumers to obtain financing for cars and other big-ticket purchases, in turn weakening the key domestic auto market. Ford (F) lost 3-1/2 to 48-1/2 in parallel, while Dow carmaker General Motors (GM) retreated 2-13/16 to 61-1/8. Among the Dow's scattered advances, Merck (MRK) reaped early benefits from an announcement that the pharmaceutical firm will begin testing two AIDS vaccines on human subjects soon, with shares gaining 7/8 to 67-5/8. Shares of biotech firm Vical (VICL), which is licensing technology used in one of the vaccines to Merck, jumped 3-11/16, or more than 33 percent, to 14-3/4. 해석 할 시간이 없었어요 이해해 주세요 ^^; |