Before the Bell 5/2/2008

[0:26] ..." in the last several months and that is the construction industry the manufacturing sector the with the strength shown in the okay effect at the end of us all it is believed in hospitality industry which"...

[0:57] ..." the fact that we truly live and in a global economy the Federal Reserve announced this morning a coordinated effort with the European Central Bank in the Swiss national bank to inject more money. In the world capital markets so that lending institutions will have more capital"...

[1:34] ..." capital markets. Cause US stock futures jumped the morning Nasdaq S&P the Dow industrial futures were a lot. And that's good news and all this takes the pressure. Also said that -- have to think about"...

[0:16]" Yet so much less than expected so that is in good news of sorts of in the 20000 was a talk was was due mainly to. What we would have expected it was seeing right along in the last several months and that is the construction industry the manufacturing sector the with the strength shown in the okay effect at the end of us all it is believed in hospitality industry which indicate and strong segment in the an economy right now the temporary help -- was helped off that the other losses the other areas and therefore wasn't as bad as expected."

[0:54]" As a -- fact the that the interest in -- the news clearly document the fact that we truly live and in a global economy the Federal Reserve announced this morning a coordinated effort with the European Central Bank in the Swiss national bank to inject more money. In the world capital markets so that lending institutions will have more capital available at -- already. And they also announced. A more liberal definition of what can be used for collateral in the term securities and industries -- there yet also very business."

[1:27]" The implications that I mean the better than expected job growth and the liquidity injection into world capital markets. Cause US stock futures jumped the morning Nasdaq S&P the Dow industrial futures were a lot. And that's good news and all this takes the pressure. Also said that -- have to think about lower lowering rates anymore. Which is good because of the fact they -- got much more room to go anyway back in the seventies and eighties they had a lot more flexibility but the key lending rate is already got 2%. Now on top of that one final piece of good news is relatively speaking as the fact that consumer spending was Billy up in March that we learned yesterday. And that was the result those people worried about inflation have to understand that the weak economic activity low consumer spending is not going to put much pressure on inflation. Those results therefore we're looking at probably a recession that is going to be a little bit left the vehicle was expected."