Market Update, Fri, June 2, 2000
By: Adam Martin
The summer rally is underway, according to analysts. Heralded by powerful futures and premarket activity, stocks exploded out of the gate this morning led once again by technology stocks. Employment numbers announced earlier this morning came in substantially cooler than forecasts, and futures went from skittish to bullish almost immediately. On the heels of the announcement, there's a growing sentiment among analysts that the Fed may be done raising interest rates for the foreseeable future. Based on that optimism, stocks are set to rally strongly for today, and probably at least through the next few sessions. Look for lots of green on the boards today.
