Donald Selkin Mean Quotations

We're projecting technology earnings are going to grow almost 40 percent this quarter and that's on top of a very, very strong 1999. Energy company earnings obviously will grow close to 80 percent, but that's on top of a weak '99. So there are companies that should have leadership. After all, if you look at the companies that issue profit warnings last week; Maytag, McDonald's, I mean I don't think the future of growth of American economy is washing machines or cheeseburgers.

There's tremendous relief after all the selling, and statistically, we have some verification that this could be a bottom. But that doesn't mean we're going to see another day like this. There's still tremendous negativity.

I think the Fed meant to say something reassuring about the economy, but the result was very confusing.