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Voice of America, 00-08-28

Voice of America: Selected Articles Directory - Previous Article - Next Article

From: The Voice of America <gopher://gopher.voa.gov>


CONTENTS

  • [01] NY ECON WRAP (S&L) BY ELAINE JOHANSON (NEW YORK)
  • [02] MONDAY'S EDITORIALS BY PAULA WOLFSON (WASHINGTON)

  • [01] NY ECON WRAP (S&L) BY ELAINE JOHANSON (NEW YORK)

    DATE=8/28/2000
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-265921
    CONTENT=
    VOICED AT:

    INTRO: The U-S stock market made some solid gains today (Monday) despite light trading volume. A broad- based rally pushed all three major stock indices higher. VOA correspondent Elaine Johanson reports from New York:

    TEXT: The Dow Jones Industrial Average closed 60 points higher, about one-half of one percent, at 11- thousand-252. The Standard and Poor's 500 index climbed seven points. And the technology-weighted Nasdaq composite gained about 28 points, less than one percent. Analysts anticipate light trading for the rest of the week, with many market participants on vacation ahead of the U-S Labor Day holiday next Monday. The market, however, has an unmistakable upward bias. That excites the experts. The Dow Jones Industrials ended last week at their highest level since April. Investors are more confident now that interest rates will not be going up - at least over the next few months. The U-S central bank left rates unchanged last week, expressing some assurance that the U-S economy is not getting over-heated.

    /// REST OPT ///

    Market-watcher Joseph Cangemi believes investors are reacting to a positive economic environment:

    /// CANGEMI ACT ///

    The money seems to be going into very solid issues. They're buying the "techs" on an interest rate picture that's favorable. They're buying the "banks" and the "financials," which is something I was anticipating and hoping for. I think that's good background for the second half of the year. The fundamentals are real strong here. Economically everything is sound.

    /// END ACT ///

    And economist Lynn Reaser says the numbers coming out this week should keep investors optimistic:

    /// REASER ACT ///

    We're looking at really quite market-friendly indicators this week. We'll have our first major glimpse of August on Friday. Generally, the underlying trend should be moderate job growth, low unemployment and a still relatively mild increase in wages.

    /// END ACT ///

    Meanwhile, most experts predict a solid performance by major U-S businesses for the rest of the year. Shares of I-B-M nudged the industrials higher again, as more analysts expect better second-half results from the computer giant. (Signed) NEB/EJ/LSF/TVM/KL 28-Aug-2000 16:52 PM EDT (28-Aug-2000 2052 UTC)
    NNNN
    Source: Voice of America

    [02] MONDAY'S EDITORIALS BY PAULA WOLFSON (WASHINGTON)

    DATE=8/28/2000
    TYPE=BACKGROUND REPORT
    NUMBER=6-11978
    EDITOR=ASSIGNMENTS
    TELEPHONE=619-2702
    CONTENT=
    VOICED AT:

    INTRO: Today's (Monday's) newspapers in the United States feature editorials on a wide array of subjects. They range from defense policy as an issue in the U-S presidential election campaign to the latest news on global warming. ______________ reviews the editorial pages from the latest newspapers.

    TEXT: Both Republican George W. Bush and Democrat Al Gore have been talking a lot about defense policy. The debate has centered on the question of military readiness, with Mr. Bush saying the next president will inherit a military in decline. The Philadelphia Inquirer says it is an unfair accusation because the defense budget and military pay are already on the rise. And the newspaper suggests the focus on readiness is obscuring other pressing defense issues.

    VOICE: Is the strategic premise underlying the defense budget - - the need to be able to fight two major theater wars nearly simultaneously, sans allies - - still valid? Is a missile defense system either technically doable or strategically wise... Is Mr. Bush right that the nation must cure its penchant for humanitarian missions to the Haitis and Kosovos of the world? Is Mr. Gore right that the Army both needs and has ten combat ready divisions?

    TEXT: The Boston Globe looks at another facet of the debate over international security: continued participation by the United States and other countries in U-N peacekeeping operations. A special panel of peacekeeping and relief officials recently issued a report critical of the way the United Nations handles such missions. The "Globe" predicts the report will have a big impact at U-N headquarters.

    VOICE: The most dramatic departure from past U-N practice is the report's call on U-N forces to forgo a stance of impartiality when one side in the conflict is clearly the aggressor... Making that distinction and following it up with a force will require larger, better-led, better- equipped, and more quickly deployed units than the U-N has had at its disposal in the past. The report calls for many changes that would make this possible, not least establishment of a new office at U-N headquarters that would provide political and military intelligence about conflict situations.

    TEXT: The New York Times editorial page turns its attention to the political situation in Pakistan. In an editorial headlined "Military Misrule in Pakistan," the Times writes:

    VOICE: Last October, Gen. Pervez Musharraf overthrew Pakistan's democracy, promising to eradicate corruption, revive the economy and open the way for "true diplomacy."...Ten months later, he has made little progress with the economy or corruption and has put off the return of democracy until at least 2003...Pakistan's democratic governments have been flawed. But its military dictatorships have blighted its economic and political development and gravely damaged its international reputation. General Musharraf's administration has proved no different.

    TEXT: And finally, the Washington Post examines environmental matters. It says recent developments in the debate over global warming seem contradictory. An icebreaker found open water at the North Pole, calling attention to a thinning polar ice cap. Meanwhile, Dr. James Hansen - a leader in drawing attention to global warming - suggested a shift in emphasis from curbing carbon-dioxide emissions to reducing other greenhouse gases such as methane which are already in decline. The Post says all this new information underscores the fact that climate issues are complex and far from fully understood.

    VOICE: It should serve as a caution to environmentalists so certain of their position that they are willing to advocate radical solutions, no matter what the economic costs. It suggests that the sensible course is to move ahead with a strong dose of realism and flexibility, focusing on approaches that are economically viable, that serve other useful purposes such as cutting dependence on foreign oil or improving public health, and that can help support international consensus for addressing climate change.

    TEXT: With those thoughts from the Washington Post, we end this editorial summary.
    NEB/PW/RAE 28-Aug-2000 12:21 PM EDT (28-Aug-2000 1621 UTC)
    NNNN
    Source: Voice of America


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