2007年VOA标准英语-Despite Modest Gains, Uncertainty Remains on Wa

By Mil Arcega
Washington
21 August 2007
 

The Dow Jones Industrial Average managed a modest gain of 42 points Monday after fluctuating between gains and losses at the start of the trading week.  Despite rallying Friday after the U.S. Federal Reserve announced cuts to one its key rates, investors¹ spent much of Monday speculating on what the Fed might do next.  VOA's Mil Arcega reports.    

For many traders, such as Seaport² Securities broker³ Ted⁴ Weisberg, last week's rally was a high point. "It was clearly a highly charged atmosphere, a lot of excitement, a lot of running around."

But by Monday, investors were once again hedging their bets.  Demand for three-year Treasury⁵ bills fell sharply early in the day, suggesting widespread uncertainty⁶ about interest rates. Although investors welcomed the Fed decision last week to cut the rate it charges banks by half a percentage point, investors were busy Monday wondering how far the central bank would go. 

Sam Stovall is a senior equity⁷ strategist with Standard & Poor's. "The real question is whether they will have to do more in order to calm the fears of investors. Their efforts right now are really not meant to stop the fall in share prices, but to make sure that the mortgage market does not grind to a halt."

Some analysts⁸ speculate that last week's cut to the discount rate might signal a similar cut in the federal rate. That is the rate banks charge each other, and experts consider it a more important benchmark in lessening⁹ the impact of mass mortgage defaults in the U.S. 

But since the Fed is not scheduled to meet formally until next month, Weisberg said that traders will have to wait.  "At this point I think you have to view it as technical in nature from an oversold condition and we'll just have to see where we are next week as we get into next Tuesday and Wednesday."

The cautious showing on Wall Street dampened some of the earlier gains in Europe, but Asian markets closed sharply higher Monday.  Tokyo saw its biggest single-day point rise since June of last year.  And Shanghai's benchmark index gained more than five percent. 

1 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

2 seaport   

n.海港，港口，港市

参考例句：

• Ostend is the most important seaport in Belgium.奥斯坦德是比利时最重要的海港。
• A seaport where ships can take on supplies of coal.轮船能够补充煤炭的海港。

3 broker   

n.中间人，经纪人；v.作为中间人来安排

参考例句：

• He baited the broker by promises of higher commissions.他答应给更高的佣金来引诱那位经纪人。
• I'm a real estate broker.我是不动产经纪人。

4 ted   

vt.翻晒，撒，撒开

参考例句：

• The invaders gut ted the village.侵略者把村中财物洗劫一空。
• She often teds the corn when it's sunny.天好的时候她就翻晒玉米。

5 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

6 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

7 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

8 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

9 lessening   

减轻，减少，变小

参考例句：

• So however much he earned, she spent it, her demands growing and lessening with his income. 祥子挣多少，她花多少，她的要求随着他的钱涨落。 来自汉英文学 - 骆驼祥子
• The talks have resulted in a lessening of suspicion. 谈话消减了彼此的怀疑。