Feeds

Roundup: yesterday's markets

Proposed interest rate cut boosts shares

  • alert
  • submit to reddit

Next gen security for virtualised datacentres

Federal Reserve chairman Alan Greenspan ignited the world's markets with his suggestion (subject to a vote of the Federal Open Market Committee on Tuesday) that the Fed will cut short-term interest rates next week. The Senate had been about to vote a resolution urging a rate cut, but dropped it on whispers of the Fed's move. It is extraordinary that such a move could have such an effect on markets. A small cut in the 5.5 per cent inter-bank overnight rate is unlikely to have anything like the effect on companies that the announcement had on the market. In effect, it is a psychological message: that inflation will be restrained by an economic slowdown. The result was a rise in the Dow of 257 points, to 8154, making 1998 gains positive once again. NASDAQ rose 62 to 1760. Internet stocks showed strong gains after their recent thrashing, although the whole technology sector did very well. ® Click for more stories Major gainers in percent: Adobe (5.0), Amazon.com (19), AMD (11.7), AOL (9.7), Apple (3.5), Broadcast.com (11.0), Cisco (5.4), CNET (19.6), Datastream (32), Dell (6.7), Excite (33), HP (5.9), IBM (3.4), Intel (4.2), Informix (3.8), Inktomi (11.1), Intuit (16.4), Lycos (19), Microsoft (4.1), Nat Semi (3.8), Netscape (8.3), Quantum (5.4), Qwest Seagate (4.5), Sun Yahoo (15) and VLSI (7.1). Losers included Symantec (-3.6 per cent), and Broadvision, a developer of e-commerce software, fell 25 per cent because of concerns about how it recognised revenue from a renegotiated agreement to license software to Iona Technologies. The volume of Broadview shares traded was more then eight times the average over the last three months. The Center for Financial Research and Analysis, which produces a newsletter that looks for accounting irregularities, drew attention to its findings. Broadvision had been tipped by financial analysts, and the current problem is not apparently related to the current quarter's expectations, according to Janine Kromhout of Broadview in a conference call yesterday. EBays' IPO, after earlier expectations of $14-16, was priced at $18, which was considered to be rather high, although it is the first IPO for almost a month.

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?