By Evelina M. Tainer, Chief Economist, Econoday
11/24/00



It was a holiday week and economic indicators were sparse. Aside from the international trade deficit, such indicators as jobless claims, the federal budget, and consumer sentiment failed to have any impact on bond or stock prices in an environment beset by uncertainty. The presidential sweepstakes is eroding the market's underpinning. As a result, earnings reports don't have to be significantly bearish to create sharp downward movements in prices. But if prices continue to overshoot on the downside, it could set the stage for a relief rally when a presidential "victor" is finally announced.