Program: Friday, September 19, 2003

What's Next For The NYSE?
Japan's Rocky Economic Road To Recovery
Heard Through The Grapevine...Midwest Farmers Are Growing Grapes
"Market Monitor"-Mark Leibovit, Chief Market Strategist for VRtrader.com
The Week Ahead
Paul Kangas' Stocks In The News
Market Stats

09/19/03: What's Next For The NYSE?

JEFF YASTINE: It has been an historic week at the New York Stock Exchange, with the resignation of its Chairman and CEO, Richard Grasso. Now, investors want to know what`s next for the big board and its board of directors. Scott Gurvey has the latest.

SCOTT GURVEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: In their third emergency meeting of the week, members of the New York Stock Exchange board decided that Laurence Fink, board member and Chief Executive of the BlackRock investment firm, will lead the search for a new CEO. The board members did not address the increasingly loud calls for their own resignations. Many Exchange members want the board members who voted in favor of Dick Grasso`s large compensation package to leave.

PRAKASH SETHI, MANAGEMENT PROFESSOR, BARUCH COLLEGE: I am surprised that the same people who voted for Mr. Grasso`s resignation or accepted it did not tender their own resignations at the same time, because they were the ones who offered the salary. They were the ones who agreed to the salary. And then just because there`s a public scandal, the fact that they voted for the salary does not change.

GURVEY: Lead Director Carl McCall, answering reporters` questions this week, said the board will take responsibility for its actions.

CARL MCCALL, LEAD DIRECTOR, NYSE: The board is responsible for the actions that have gone here. And the board should be held accountable for them and the board will be held accountable for the actions we take in the future.

GURVEY: The NYSE board is also considering calls that it separate the chairman and CEO positions at the exchange. Grasso held both titles. Many believe the NYSE should follow the lead of the NASDAQ stock exchange and separate its regulatory functions from the business side of its operations. That may require a completely independent regulator, or it may call for a separate chain of command. Governance experts also believe the exchange should populate its board with representatives of investors, even if it remains a self regulated organization. Professor Charles Elson has testified before the NYSE`s governance committee.

CHARLES ELSON, CORPORATE GOVERNANCE PROFESSOR, UNIVERSITY OF DELAWARE: I think a board comprised of the participants, but dominated by those who are not directly regulated by the Exchange, makes the most sense because I think it preserves the tradition of the Exchange. It preserves a seat at the table for those who, in fact, make up the Exchange, the listed companies/broker dealers/investors, in an effective manner.

GURVEY: In its statement following the board meeting, the Exchange said the members will meet next Wednesday. No date was announced for the next meeting of the board. Scott Gurvey NIGHTLY BUSINESS REPORT New York.

Nightly Business Report transcripts are available on-line post broadcast. The program is transcribed by eMediaMillWorks. Updates may be posted at a later date. The views of our guests and commentators are their own and do not necessarily represent the views of Community Television Foundation of South Florida, Inc. Nightly Business Report, or WPBT. Information presented on Nightly Business Report is not and should not be considered as investment advice. Copyright (c) 2003 Community Television Foundation of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.

09/19/03: Japan's Rocky Economic Road To Recovery

PAUL KANGAS: Treasury Secretary John Snow, on his way to this weekend`s G7 meeting in Dubai, says the United States is doing all it can to boost its growth and called on his G7 colleagues to do the same. Snow said Europe and Japan are way under their capacities to perform and that the United States cannot be the only engine of growth. Japan is hoping a recent turnaround in its stock market will help ignite an economic recovery. But as Lucy Craft reports, 10 years of anemic economic growth has taken its toll on the Japanese public.

LUCY CRAFT, NIGHTLY BUSINESS REPORT CORRESPONDENT: For the man on the street, or driving over it, customers are still too few, purse strings still too tight and the light has yet to appear at the end of a 13 year long tunnel. Among the taxi drivers, shop owners and other small businesses of Japan, pessimism has become a mantra.

UNIDENTIFIED MALE (THROUGH TRANSLATOR): Every year the economy gets worse. It`s not going to improve.

CRAFT: Officially, Japan is on the mend. Bankruptcies are falling and unemployment is easing slightly. Operating profits are healthy again. But on a micro level, an unprecedented wave of corporate belt tightening means continued pain for many businesses, who report they are just managing to make ends meet.

UNIDENTIFIED MALE (THROUGH TRANSLATOR): We`ve been forced to cut our prices back to levels we had 30 years ago. Autumn used to be our busiest time of year, when companies placed orders for calendars and new year`s greeting cards. But nowadays, companies have cut back on these items. So our future is unclear.

CRAFT: Japan`s whopping national debt, at 160 percent of GDP, ranks Japan worst among rich countries.

EDWIN MERNER, PRESIDENT, ATLANTIS INVESTMENT RESEARCH: The borrowing, this government borrowings are really out of control. So how long will the current recovery last? Nobody knows.

CRAFT: But for foreign investors, Japan not only looks less tarnished these days, it positively glitters. The government`s decision last spring to nationalize Resona, the country`s fifth largest bank, and improved bad loan disposal at other banks, signal Japan is getting serious about financial reform, say some experts.

ROBERT FELDMAN, MANAGING DIRECTOR, MORGAN STANLEY JAPAN LTD.: I would credit a lot of the bank cleanup activities with being the trigger or the spark for some of the reforms at a number of companies.

CRAFT: America`s renewed appetite for Japanese plasma TVs, video game consoles, autos and digital cameras are powering a rise in industrial production and capital investment. Japan is benefiting from robust demand from China, as well.

FELDMAN: Japanese companies are somewhat higher eared to global recovery. For example, when sales go up one percent in Japan, operating earnings will go up by about five percent. That`s a little bit better than in some other countries. So when there`s a global recovery, Japanese companies tend to benefit out of proportion to others, and I think that`s an element in this, as well.

CRAFT: But experts say it`s sayonara to the dynamic, sustainable growth that earned Japan its mythical status in the last century.

MERNER: It`s really quite low growth. And that`s maybe what you have to expect from Japan in the future. You`re not going to see three, four, five percent growth. You`re going to see maybe, in good years, you`re going to see one, two, 2 1/2 percent.

CRAFT: A recent Japanese government survey of 500 foreign affiliated companies here found overwhelming pessimism about the state of the economy. About two thirds of those saying a real recovery remains years away. Still, many foreign companies remain bullish about prospects in their own businesses, about one third of those surveyed saying they plan to beef up their investment here. Lucy Craft, NIGHTLY BUSINESS REPORT, Tokyo.

Nightly Business Report transcripts are available on-line post broadcast. The program is transcribed by eMediaMillWorks. Updates may be posted at a later date. The views of our guests and commentators are their own and do not necessarily represent the views of Community Television Foundation of South Florida, Inc. Nightly Business Report, or WPBT. Information presented on Nightly Business Report is not and should not be considered as investment advice. Copyright (c) 2003 Community Television Foundation of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.

09/19/03: Heard Through The Grapevine...Midwest Farmers Are Growing Grapes

JEFF YASTINE: California`s famous wine industry is facing some new competition. But it isn`t coming from big foreign producers like Italy, France and Australia. As Diane Eastabrook report this new competitor is known more for growing grain than grapes.

DIANE EASTABROOK, NIGHTLY BUSINESS REPORT CORRESPONDENT: Wally Furrow knows a good crop when he sees one. And he thinks his Chardonnay grapes are exceptional this year. Furrow is among an increasing number of Illinois farmers who are replacing some of their corn and soybeans with grapes.

WALLY FURROW, ILLINOIS VINTER: Look at that one.

EASTABROOK: The fourth generation farmer says grapes are more lucrative than grains because he doesn`t just grow them, he also produces wine from the juice, bottles it and sells it in his winery and gift shop.

FURROW: We do it all right here where before we were raising corn and soybeans and taking them to ADM (ADM) or some other processor and they were selling the value added. So here we`re doing it all right here.

EASTABROOK: The fact that Illinois farmers are getting into the wine making industry isn`t all that extraordinary. At the beginning of the 20th century, Illinois was actually the fourth largest wine producing state in the nation. But Prohibition drove the industry out of Illinois for almost 70 years. So over the past few years, the wine industry has started growing again. A decade ago, Illinois had fewer than 10 wineries. Today, there are more than 40. The Illinois Wine and Grape Resources Council helped cultivate the industry by teaching farmers how to raise grapes that are different from those found on the West Coast, but are similar in taste.

FURROW: A Chamberson, which is an Illinois grape, 100 percent, is similar a little bit to a Merlot.

EASTABROOK: Still, Illinois has a long way to go before it can be a serious competitor to California. This year, the state is expected to produce 1,500 tons of grapes. California is expected to produce three million tons. But industry watchers say demand for regional wines is growing because more restaurants are serving them.

JAMIE POPP, MANAGING EDITOR, BEVERAGE INDUSTRY MAGAZINE: They`re capitalizing on the variety of brands that are out there and the variety of producers that are out there and to five more notoriety to maybe those smaller producers that can`t do it on their own.

EASTABROOK: Furrow hopes to one day sell his wine in Chicago restaurants, but that may take a few more years. He still isn`t producing enough of some varieties to keep his own winery well stocked. Diane Eastabrook, NIGHTLY BUSINESS REPORT, El Paso, Illinois.

Nightly Business Report transcripts are available on-line post broadcast. The program is transcribed by eMediaMillWorks. Updates may be posted at a later date. The views of our guests and commentators are their own and do not necessarily represent the views of Community Television Foundation of South Florida, Inc. Nightly Business Report, or WPBT. Information presented on Nightly Business Report is not and should not be considered as investment advice. Copyright (c) 2003 Community Television Foundation of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.

09/19/03: "Market Monitor"-Mark Leibovit, Chief Market Strategist for VRtrader.com

PAUL KANGAS: My guest market monitor this week is Mark Leibovit, Chief Market Strategist for VRtrader.com. And welcome back to NIGHTLY BUSINESS REPORT, Mark.

MARK LEIBOVIT, CHIEF MARKET STRATEGIST, VRTRADER.COM: Always glad to be here, Paul.

KANGAS: Well, the stock market has weathered two storms quite well this week, the one at the New York Stock Exchange and, of course, Hurricane Isabel. Do you think this is this proof that we are in a true, long-term bull market or still in just in a solid rally in a secular or long-term bear market?

LEIBOVIT: Well, you know, it`s sort of irrelevant as long as you participate either way, and it`s more philosophical than anything else. But in truth, the market has been climbing that wall of worry, Paul. So as long as it continues to ignore that so-called bad news, you have to assume the rally is still in force. So, you know, give it the benefit of the doubt until the technical indicators turn negative.

KANGAS: And who cares about the semantics, right?

LEIBOVIT: Well, sort of. I mean, you know, when we -- when I was on the show last time we talked about a 2,000 point rally mirroring the bear rallies from last year. We had a little bit more than that. So let`s see what the market tells us. If it follows the 1991 pattern, you might rally into early October and then collapse for two months. So we`re just going to have to wait for the indicators to tell us.

KANGAS: Well, on your last visit with us March 28 of this year, the Dow was around 8,145. You were basically bullish, but you said there`s a danger of the Dow going to 6,800.

LEIBOVIT: Right.

KANGAS: It didn`t, of course.

LEIBOVIT: It stopped at 7,400 and apparently that was it. We thought we could see 6,800. Now, I guess some catastrophe could hit here in the next couple of months. If we could really 2,000 points in three months, we can drop 2,000 points. But you have to wait for the numbers to tell you this. You can`t, you just can`t speculate and assume it`s going to happen.

KANGAS: Well, the one groups of stocks that you liked back in March was the gold group. And you gave us about five recommendations. Newmont Mining (NEM) was $26, now it`s over $40. Kinross Gold (KGC) was up about 20 percent and then we had about three or four others. Glamis Gold (GLG) is nicely higher by about 30 percent. Agnico- Eagle (AEM) up very comfortably. And then also I believe -- yes, RandGold & Exploration (GOLD) also up about, oh, 30 percent or so. Those were great calls and I compliment you on that. Do you still own these? Are you, sold them, taken profits, still like them, what?

LEIBOVIT: We just still like them. We love them, hold them. We`re adding other names. This is the early stages of a much bigger bull market. Other names that you might want to add to the list include Anglo Gold (AU). In the silver group perhaps Hecla (HL), Harmony Gold (HMY) and even ASA, American South African.

KANGAS: Well, let -- I mean why do you like the golds and the silvers so much here?

LEIBOVIT: Well, we`re coming out of a bit, you know, 20 year correction and there`s a chart we can put up, if you like, on the XAU Gold Index. This portrays graphically from a technician`s point of view what we`re looking at.

KANGAS: OK.

LEIBOVIT: Since 1997 we`ve created what we call a long-term reverse head and shoulders pattern. And you can see the shoulder on the left, the head in the middle and the shoulder now currently at the right. And we`re starting to take out the right side of that shoulder. The way we measure that, Paul, if you take the height from where the head is to where our break out point is, which is around 90 on the top of the shoulder, and that gives us about 50 XAU points. So around the 90 level, 95 level, we could rally up to 140, 150 in the XAU, and that tells me there`s still a lot of room coming on a multi-year chart, not on a very short-term chart.

KANGAS: Right.

LEIBOVIT: But I think we`re just beginning the move and maybe we`ll get measurements even higher than that. So it`s a very bullish pattern.

KANGAS: Well, you like a lot of the individual gold stocks. Do you own those that you`ve mentioned?

LEIBOVIT: I own some. I trade some for clients. We recommend some. So we`re all over the place. But we still basically are holding positions.

KANGAS: What about buying the bouillon itself? Will you favor that or do some of that?

LEIBOVIT: I would, absolutely. In fact, next month supposedly there`s a new ETF coming on the New York Stock Exchange.

KANGAS: Exchange traded fund, you mean?

LEIBOVIT: Exchange traded fund, ticker symbol GLD. And that`s the World Council`s Equity Gold Trust. And from what I read, they`re empowered to buy about six million ounces of gold commodity gold related products. So there`s a lot of demand coming. I think gold is going to move up in anticipation of GLD starting to trade.

KANGAS: Right. How high do you think gold can get on this move?

LEIBOVIT: Well, you know, I don`t have a specific target. I`m looking at the XAU. But I think by the end of the year you could see anywhere from 420 to 450.

KANGAS: OK.

LEIBOVIT: There`s some bulls out there that are predicting $3,000 an ounce in the next 10 years.

KANGAS: Well, all right --

LEIBOVIT: So we`ll take it as we go.

KANGAS: All right, very good. Just like last time. Buy gold and gold stocks.

LEIBOVIT: Right.

KANGAS: There you are. Thanks very much.

LEIBOVIT: Thank you.

KANGAS: You were right then. Let`s hope you continue to be right.

LEIBOVIT: Take care, Paul.Thank you.

KANGAS: My guest market monitor, Mark Leibovit, Chief Market Strategist for VRtrader.com

Nightly Business Report transcripts are available on-line post broadcast. The program is transcribed by eMediaMillWorks. Updates may be posted at a later date. The views of our guests and commentators are their own and do not necessarily represent the views of Community Television Foundation of South Florida, Inc. Nightly Business Report, or WPBT. Information presented on Nightly Business Report is not and should not be considered as investment advice. Copyright (c) 2003 Community Television Foundation of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.

09/19/03: The Week Ahead

JEFF YASTINE: Well, here`s a look at what`s happening next week. Our Friday market monitor is Jim Grinney, Chief Investment Officer at Northern Trust Bank (NTRS). On the economic calendar, Thursday, we`ll see August durable goods and both new and existing home sales for August; and Friday, it`s the final report on second quarter GDP and the August personal income and spending reports.

Nightly Business Report transcripts are available on-line post broadcast. The program is transcribed by eMediaMillWorks. Updates may be posted at a later date. The views of our guests and commentators are their own and do not necessarily represent the views of Community Television Foundation of South Florida, Inc. Nightly Business Report, or WPBT. Information presented on Nightly Business Report is not and should not be considered as investment advice. Copyright (c) 2003 Community Television Foundation of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.

9/19/03: "Paul Kangas' Stocks In The News"

PAUL KANGAS: Mild profit taking was the word on Wall Street early today in the absence of any major bullish economic news. By mid-morning, the Dow was down 27 points and the NASDAQ off 10. Nike was a bright spot, after reporting much better than expected earnings. But in early afternoon, the Dow was still off 27 points and the NASDAQ down 8 points. Stocks showed little further movement, despite the strategies linked to the quadruple witching. That`s the quarterly expiration of index and individual stock options, as well as stock and index futures. The Dow Industrial Average closed down 14.31, at 9,644.82. For the week, the Dow rose twice, fell three times, but had a net gain of 173.27 points, or 1.8 percent. The NASDAQ Composite fell 3.85 today, to end at 1,905.70. And for the week, it rose twice and fell three times, but had a gain of 50.67 points, or 2.7 percent. The Standard & Poor`s 500 Index lost 3.28 today, to close at 1,036.30. The 10-year note, over in the debt market, ended unchanged at par and 22/32, leaving the yield at 4.16 percent.

The most active New York Exchange issue, NorTel Networks (NT), trading 25 million shares, the stock moving up $0.16. Yesterday, C.S. First Boston Brokerage repeated an "outperform" rating with a $5 a share target on the stock. It`s almost there.

Pfizer (PFE), second in volume, was down $0.60.

Then Lucent Technologies (LU) giving up a $0.05.

Corning (GLW) moved up $0.27, now a double digit stock at $10.

General Electric (GE), fifth in volume, was down $0.18.

Newell Rubbermaid (NWL) down $1.68. The company`s stock traded as low as $21.73. The company postponed a scheduled October analysts` conference. It didn`t give a specific reason.

Tyco International (TYC) moved up $0.90. J.P. Morgan added it to its focus list in a belief that the general perceptions of the company`s security unit are too negative.

Citigroup (C) a $0.34 gain.

ExxonMobil (XOM) moved down $0.09.

Tenth in volume, AOL Time Warner (AOL), soon to be just Time Warner, down $0.17.

Amerisourcebergen Corp. (ABC) off $1.82. The company strongly denies a "Wall Street Journal" article`s implication that it participated in an illegal rebate scheme with manufacturers. That stock still down.

Nike (NKE), the star of the day, up $4.25. After the close yesterday, the company reported first quarter earnings of $0.98 a share, $0.10 better than the Street was expecting. And then today Goldman Sachs Brokerage increased earnings estimates. Standard & Poor`s upgraded the stock to "accumulate" and Wells Fargo Brokerage issued a "buy" recommended on Nike.

FedEx Corp. (FDX) dropping $2.35. Morgan Stanley downgraded it from "over weight" to "equal weight" in the belief that the stock is very highly valued.

Inco (N), the big nickel producer, moving up $0.71. Merrill Lynch upgraded it from "neutral" to a "buy."

And Sclumberger (SLB) moving down -- or, I should say, up $1.74. The company signed a multi-year, multi-product software master agreement with Shell International Exploration & Production Corporation.

Tektronix (TEK), a $1.32 gain there. First quarter earnings sharply lower, $0.13 versus $0.24 last year. But the company is predicting second quarter earnings will be higher at $0.14 to $0.16 a share. And today Standard & Poor`s upgraded it from "avoid" to "hold." The Robert Baird Brokerage upgraded it from -- or, I should say, to just "outperform." I believe it was "neutral" before.

Kyocera Corporation (KYO), which makes electronic components, down $4.57. The company cut its first half earnings forecast by 41 percent due to a U.S. inventory write-down of its Tantalum supplies. The company uses that in making capacitors.

Interstate Bakeries (IBC) moved up $1.42. First quarter earnings better than expected, $0.25, $0.02 above the Street estimate, even though that was way down from $0.60 last year.

And then Timken (TKR), the roller bearing company, down $1.14. The company cut its third quarter guidance from the $0.10 to $0.15 range down to just break even or perhaps a $0.05 profit.

Microsoft (MSFT) topped the active list on NASDAQ, moving up $0.46.

Followed by Intel (INTC), which gained a $0.01.

Then Amgen (AMGN) down $1.11.

Cisco Systems (CSCO) dropped $0.40.

And Oracle (ORCL), a $0.24 drop there, number five in dollar volume on NASDAQ.

Applied Materials (AMAT) fell $0.31.

Qualcomm (QCOM) a $0.68 drop.

A similar loss in eBay (EBAY).

Dell Incorporated (DELL) dropped $0.08.

And tenth in volume was Nextel Communications (NXTL), rising $0.13 a share.

SigmaTel (SGTL), a new issue, went public today. Ten million shares offered at $15, opened at $18.20, the high of the day $20.24. This company makes chips for MP3 players.

And Red Hat Incorporated (RHAT) moving up $1.48. The company in with second quarter earnings of $0.02 versus a loss of a $0.01 a share last year. The Street was only looking for $0.01 in earnings, so a little better than expected.

And FindWhat.com (FWHT), this is a Web Internet advertising firm and it`s renegotiating its buyout bid for a competitor over in the United Kingdom. That competitor called Espotting Media.

And those are the stocks in the news tonight.

Nightly Business Report transcripts are available on-line post broadcast. The program is transcribed by eMediaMillWorks. Updates may be posted at a later date. The views of our guests and commentators are their own and do not necessarily represent the views of Community Television Foundation of South Florida, Inc. Nightly Business Report, or WPBT. Information presented on Nightly Business Report is not and should not be considered as investment advice. Copyright (c) 2003 Community Television Foundation of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.

09/19/03: Market Stats

			
                                      NET    PERCENT
                         CLOSE     CHANGE     CHANGE
DOW CLOSE             9644.82     -14.31       - .2
HIGH                                        9686.08
LOW                                         9610.15

NASDAQ COMP.          1905.70      -3.85        -.2
HIGH                                        1913.74
LOW                                         1895.93

VOLUME                                      1,464.4
PREVIOUS                                    1,493.2
UP VOLUME                                     660.4
DOWN VOLUME                                   771.7

DOW TRANSPORTS        2794.71     -30.36      - 1.1
DOW UTILITIES          250.11       +.88       + .4
CLOSING TICK                                   +685

S&P 500               1036.30      -3.28       - .3
S&P 100                520.62      -1.98       - .4
MIDCAP 400             532.03       +.58       + .1
REUTERS/CRB            238.49       +.92       + .4

NYSE COMPOSITE        5847.88      -8.09       - .1
VALUE LINE             335.74       +.08       0.02
RUSSELL 2000           520.20       +.74       0.14
WILSHIRE 5000        10054.07     -22.09      -0.22

U.S. TREASURIES
5-YEAR NOTE 3.125%
Sept. 15,2008       100  3/32      -5/32       3.11

10-YEAR NOTE 4.25%
Aug. 15,2013        100 22/32      unch.       4.16

30-YEAR NOTE 5.375%
Feb. 15, 2031       104 14/32      +2/32       5.07

LEHMAN BROS.
LONG BOND INDEX       1736.34      +6.81

DOW CLOSE             9644.82     -14.31       - .2
ADVANCES                                       1761
DECLINES                                       1439
NEW HIGHS                                       286
NEW LOWS                                          7

                                     NET    PERCENT
NYSE MOST ACTIVES   4PM CLOSE     CHANGE     CHANGE
NT     Nortel Networks   4.61       +.16       +3.6
PFE    Pfizer           31.45       -.60       -1.9
LU     Lucent Tech       2.31       -.05       -2.1
GLW    Corning          10.00       +.27       +2.8
GE     GE               31.93       -.18        -.6
NWL    Newell Rubbermd  22.43      -1.68       -7.0
TYC    Tyco Intl        21.90       +.90       +4.3
C      Citigroup        46.99       +.34        +.7
XOM    Exxon Mobil      36.99       -.09        -.2
AOL    AOL Time Warner  16.28       -.17       -1.0

NASDAQ CLOSE          1905.70     - 3.85       - .2
VOLUME                                      1,902.0
PREVIOUS                                    2,016.3
ADVANCES                                       1644
DECLINES                                       1543

NASDAQ ACTIVES
MSFT   Microsoft        29.96       +.46       +1.6
INTC   Intel            29.17       +.01        +.0
AMGN   Amgen            68.89      -1.11       -1.6
CSCO   Cisco Systems    21.02       -.40       -1.9
ORCL   Oracle           12.12       -.24       -1.9
AMAT   Applied Matl     20.48       -.31       -1.5
QCOM   Qualcomm         45.05       -.68       -1.5
EBAY   eBay             54.91       -.69       -1.2
DELL   Dell Inc         34.86       -.08        -.2
NXTL   Nextel Comms     19.98       +.13        +.7

AMEX CLOSE             997.84     + 7.38       + .8

INDEX SHARES
DIA    DIAMONDS TRUST   96.47       -.28        -.3
QQQ    NASDAQ 100       34.57       -.22        -.6
SPY    S&P DEP.RECEIPT 103.67       -.52        -.5

STOCKS IN THE NEWS
ABC    Amerisourcebergn 54.83      -1.82       -3.2
NKE    Nike Inc         61.50      +4.25       +7.4
FDX    FedEx            66.25      -2.35       -3.4
N      Inco Ltd         28.51       +.71       +2.6
SLB    Schlumberger Ltd 50.99      +1.74       +3.5
TEK    Tektronix        25.67      +1.32       +5.4
KYO    Kyocera Corp     64.68      -4.57       -6.6
IBC    Intr Bakeries    14.92      +1.42      +10.5
TKR    Timken Co        16.87      -1.14       -6.3
SGTL   SigmaTel         19.80      +4.80      +32.0
RHAT   Red Hat           9.88      +1.48      +17.6
FWHT   FindWhat.Com     20.21      -6.81      -25.2