 a barrier 
for the blue-chip index. 
But the Nasdaq composite index rose 25.20 points, or 1.2%, to 2,198.77 as 
semiconductor and computer networking stocks rose ahead of Cisco Systems' 
quarterly earnings report, released after regular trading ended. 
Cisco's operating results slightly beat estimates, but the company reported a 
massive net loss as it wrote down the value of excess inventory. Cisco 
shares, which rallied $1.13 to $20.38 in regular trading, fell to $19.90 in 
after-hours activity. 
In the broad market Tuesday, winners edged losers by 21 to 17 on Nasdaq and 
by 16 to 14 on the New York Stock Exchange. Trading volume was moderate. 
Some analysts were impressed by the market's strength, especially in the wake 
of the downbeat productivity report. 
The government said worker productivity fell at a 0.1% rate in the first 
quarter, the first decline in five years. The report, though not entirely 
unexpected, raised fears about inflationary pressures in the economy. 
Productivity gains had helped hold inflation to a minimum in the late 1990s. 
Long-term Treasury bond yields rose modestly Tuesday as traders registered 
their concern about inflation's trend. 
The 10-year T-note yield ended at 5.24%, up from 5.19% Monday. 
But shorter-term yields continued to slide as traders bet that the Fed, which 
meets Tuesday, will cut its key short-term lending rate for a fifth time this 
year. 
The six-month T-bill yield slid to a new two-year low of 3.69% from 3.72% 
Monday. 
Though the central bank may lower short-term rates further, the productivity 
report "increases the likelihood that the Fed will have to reverse course 
next year," raising rates to contain inflation, Henry Willmore, chief U.S. 
economist at Barclays Capital, told Bloomberg News. 
Among Tuesday's market highlights: 
* Financial stocks remained under pressure on concerns about loan losses and 
weaker borrowing in the struggling economy. American Express fell $1.93 to 
$41.30 after Morgan Stanley downgraded the stock. 
J
a barrier 
 for the blue - chip index. 
 But the Nasdaq composite index rise 25.20 points, or 1.2% , to 2,198.77 as 
 semiconductor and calculator networking stocks rise ahead of Cisco Systems' 
 quarterly earnings report card, released after regular trading end. 
 Cisco's operating results slightly outwit estimates, but the company report a 
 massive final loss as it wrote down the value of excess stock. Cisco 
 shares, which rallied $ 1.13 to $ 20.38 in even trading, fell to $ 19.90 in 
 after - hours activity. 
 In the across-the-board market Tuesday, winners edged losers by 21 to 17 on Nasdaq and 
 by 16 to 14 on the New York Stock Exchange. Trading bulk was moderate. 
 Some analysts were impressed by the market's strength, especially in the aftermath 
 of the downbeat productivity report. 
 The government said worker productivity fell at a 0.1% rate in the first 
 quarter, the first decline in five years. The report, though not entirely 
 unexpected, raised fears about inflationary pressure in the economy. 
 Productivity gains had helped reserve ostentation to a minimum in the late 1990s. 
 Long - term Treasury bond yields rose modestly Tuesday as traders register 
 their concern about inflation's trend. 
 The 10 - year T - note yield end at 5.24% , up from 5.19% Monday. 
 But shorter - term yields continued to skid as traders count that the Fed, which 
 meet Tuesday, will cut its key short - condition lending rate for a fifth time this 
 year. 
 The six - calendar month T - bill return slid to a new two - class low of 3.69% from 3.72% 
 Monday. 
 Though the central bank may lower short - condition rates farther, the productivity 
 report card " increases the likelihood that the Fed will have to overrule course 
 next class, " raising rates to contain inflation, Henry Willmore, chief U.S. 
 economist at Barclays Capital, told Bloomberg News. 
 Among Tuesday's market highlights: 
 * Financial stocks remained under pressure on concerns about loanword losses and 
 weaker borrowing in the fight economy. American Express fell $ 1.93 to 
 $ 41.30 after Morgan Stanley downgraded the stock. 
 J
 a harrier 
for the blue-chip index. 
But the Uqsdaq romposife index rose 25.20 points, or 1.2%, to 2,198.77 as 
semmconeuctoe and computer networkkng stockd rose ayead if Cisco Sbatems' 
qmcrtermn earuiigs report, relessed after regular traditg euded. 
Cisco's operating results slightjy beat edtimates, but tre cpipang reported a 
massive net loss as if wrote down the valie of excess inventory. Cisfo 
sjares, which rallief $1.13 to $20.38 in rgfulwe trading, feul to $19.90 in 
after-hours adtivity. 
In the broad market Tuerday, cinners edggb lodgrs by 21 to 17 in Nafdaq and 
by 16 to 14 on dhe New York Stock Exghangx. Trqding volume was modecate. 
Some analysts wgre impresveb by the market's strebgrh, eskecianly kb tfe sale 
of thf dkwnbeat prkductivity eeport. 
The governmemt waid worker pdoductyvyty fell at a 0.1% rate in the first 
quarteg, ths first decline in five years. The report, thoogh not eneirely 
unexpected, raised fears about inflationary presajrew ln tfw fconomy. 
Productivity gains had helped hold insmauiok to a minimum ik the late 1990s. 
Long-trrl Yteasury bond ykelds xkss modestly Tuesday as traqers eegistereq 
thrir concern about inflation'w trend. 
The 10-jear T-note yield ended at 5.24%, up froo 5.19% Mpnday. 
But shorter-term yields confinued to spide as tdxders bet that tfe Ned, which 
mtdts Tuesday, will sut its kxy shprt-term lencing rwte for a vifth time this 
year. 
The six-mlndh T-bill yleld slid to a new two-year low of 3.69% from 3.72% 
Mondsy. 
Thmugh the centval bank may lorer short-term tates furcher, tfe productpvity 
repmrt "increasqs the likelivlod that the Fed wilj hace ti reverrd course 
next uear," raispny rates ti contain inflatiok, Henty Willmore, chief U.S. 
economist at Bsrcuayf Bapmtal, emld Bloomberc Neds. 
Xkong Guesday's mavkeg hibhlights: 
* Financial vtocis remained under lrcssure on concernf about loan kosses and 
weaker horroxing ii the xtroggling economy. American Expresa fell $1.93 tl 
$41.30 wfter Morgan Stakley downgradeb the stock. 
J
a barrier for the blue-chip index. But composite rose 25.20 or 1.2%, to networking rose ahead of Systems' quarterly earnings released after regular trading ended. Cisco's results slightly beat estimates, but the company reported a massive net loss as wrote down the value of excess inventory. Cisco shares, which rallied $1.13 to in trading, to in after-hours activity. In the broad market Tuesday, winners edged losers by 21 to 17 on and by 16 to 14 on the New Stock Exchange. Trading volume moderate. Some analysts were impressed the strength, especially the of downbeat productivity report. government said worker productivity fell at a 0.1% rate in the first quarter, the first decline in years. The not entirely raised about pressures in the gains had helped hold inflation to the late 1990s. Long-term Treasury bond yields rose Tuesday as registered their concern about inflation's trend. 10-year T-note yield ended at 5.24%, up from Monday. But shorter-term yields continued to slide as traders bet that the Fed, which meets cut its key short-term rate for a time year. six-month yield slid a new two-year low of 3.69% from 3.72% Monday. Though the bank may lower short-term rates further, the productivity report "increases that Fed will have reverse course next year," rates contain inflation, Henry Willmore, economist Barclays News. Tuesday's highlights: * Financial stocks under pressure on concerns about losses and weaker borrowing Express fell $1.93 to $41.30 after Morgan Stanley the stock. J
 a barrier 
for the blue-chip indEx. 
But the NaSdaq cOmpOsiTe IndeX rosE 25.20 points, or 1.2%, to 2,198.77 as 
sEMicoNductor and computer netwOrkinG sTOcks ROsE aheaD of CiscO sySTEms' 
QuArTerLy EArNings RepOrt, releAsed after rEguLaR trading endeD. 
ciSco's operatIng Results slighTly Beat esTiMatES, but tHe cOmpanY reporTEd a 
masSive net loSs AS it wroTE down thE VAlUe of Excess inventory. CiSCo 
SHares, which rallIed $1.13 to $20.38 iN rEGuLAR trAdiNg, fell to $19.90 in 
AfTer-hoURs activITy. 
iN THe bROad market TuesDay, winners eDGed Losers By 21 To 17 oN nasdaq And 
by 16 To 14 ON thE New York StoCk ExChange. TraDing voLUme was mODerate. 
SOme anaLysTs wEre iMPrEsSed By THe mARkEt's STreNgth, espeCiAlLy in tHe waKE 
OF The dOwnBeat ProduCtivity report. 
the GoveRNmeNt saiD workEr prOdUctivIty felL at a 0.1% rAtE in the first 
quarTer, tHe first deCliNe In fIvE yearS. the repOrt, ThoUgh not eNtirely 
UNexPeCTED, rAised fears about infLaTIOnAry pressUres in THe EcONomy. 
ProdUcTivIty gAINs had HelpED hOld inflaTion to A MiNiMum in thE lAte 1990s. 
LoNg-TerM TrEasurY Bond Yields Rose modeStly TUEsday as traders REgistered 
theiR CoNCErN AbouT inFlation's treNd. 
ThE 10-Year t-notE YiEld ENded aT 5.24%, up frOm 5.19% mOnDAy. 
But shorter-term yieLdS contiNued tO slide as tradeRs bet that tHE fEd, which 
mEets tUeSDay, will cut its kEy shoRt-term lendINg rate foR a fifTh time thIs 
year. 
The SIX-month T-bIll YieLd sLid TO A nEw two-year low oF 3.69% FRom 3.72% 
MOnDay. 
ThouGh tHe centrAl bAnk May LowEr Short-term Rates furThEr, ThE pRodUctivITy 
report "InCreAsEs tHe likELihood That tHe FeD wIlL HavE to reveRSe COUrse 
NeXt Year," RaiSiNg ratEs to COntAin inflAtion, HenrY WiLLmorE, cHiEf U.S. 
ecoNomist at BarclAyS Capital, toLd bloOmberg nEWs. 
Among TUesday's market highlights: 
* fInanciaL stOcks rEmaiNed under pResSure on ConCErns abOut loaN lossEs And 
WEAker bORRoWinG iN the struggLINg eConomY. AMeriCan ExprEss fell $1.93 to 
$41.30 after MorgAN StAnley downgradEd tHe stOCK. 
J
 a barrier 
for the blue-c hip index.  
But  th e N as daqcomp osite index ro s e 25 .20 points, or 1.2%, t o 2,1 98 . 77 a s  semic onducto r  a n d  co mp ut erne t wo rking  st ocks ro se ahead o f C is co Systems'qu arterly ea rni ngs report,rel easedaf ter regul artradi ng end e d. 
Ci sco's ope ra t ing re s ults sl i g ht ly b eat estimates, bu t  t h e company repo rted a  m as s i venet  loss as i twrote down th e  v a l u e o f  excess inven tory. Cisco 
sh ares,wh ich rallie d $1. 13 to$20.38 in r egul ar tradin g, fel l  to $19 . 90 in after- hou rsacti v it y.  
I nt heb ro adm ark et Tuesd ay ,winne rs e d g e d  los ers  by21 to  17 on Nasdaq  an d 
b y  16  to 1 4 ontheNe w Yor k Stoc k Exc ha nge. Trading vo lume  was mode rat e.  
S om e ana l ysts w ere  im pressed  by the mar ke t ' s  s trength, especiall yi n  t he wake
of th e  d ow n beat pro du cti vity r eport . 
T h egovernme nt sai d  w or ker pro du ctivit yfel l a t a 0 . 1% r ate in  the fir st 
q u arter, the fir s t decline inf iv e ye a rs.The  report, th ough notenti r el y u nexpe cted,  r a is e d fears about infla ti onarypress ures in the e conomy. 
P r o d uctivity  gai n sh ad helped hold  infl ation to a minimumin th e late 1 990s. 
Lo n g -term Tr eas ury  bo ndy i el ds rose modes t l y Tu es day astra ders re gis ter ed
th ei r concern  about i nf la ti on 'strend .  
The 10 -y ear  T -no te yi e ld end ed at  5.2 4% ,u p f rom 5.1 9 %M o nday .
B ut s hor te r-ter m yi e lds  contin ued to sl ide as t ra de rs betthat the Fed,  w hich 
meet sTue sday,w i ll cut i ts key short-term lendi n g ratefor  a fi fthtime this  
y ear. The six-mo nth T- billyi eld s lid t o anew  t wo-year lo w of3.69%  f rom3.72% Monday. 
Though th e  ce ntral bank ma y l ower s ho rt- t er m  ra te s  fu r t her, the produc tivity 
re po r t"increases the  l ikeliho od that  theF ed will  have toreverse c ou rsen ext  year," ra ising ra tes to co n taini nf latio n,HenryWi llm ore,chiefU .S.  
eco nomist  a t Barc laysCa pital, t old Bloomberg News. 
Am ong Tu esday 'smarket hi ghl i ght s: 
* Fin anci al stocksrem ain ed un der press ureo ncon c ernsabou t  loan los s es  an d 
w eaker borro w i n g i n the  st r ugglin g ec onomy. American E x press fell $1. 93 t o 
$4 1.3 0  aft er  Morgan Stanle y d ow n g raded th estock. 
J
 a_barrier 
for_the blue-chip index. 
But_the Nasdaq_composite_index rose_25.20_points, or 1.2%,_to 2,198.77 as_
semiconductor and computer networking_stocks rose ahead_of_Cisco Systems' 
quarterly earnings report, released after regular trading ended. 
Cisco's operating results slightly_beat_estimates, but_the_company_reported a 
massive net loss_as it wrote down the_value of_excess inventory. Cisco 
shares, which rallied $1.13 to_$20.38_in regular trading,_fell to $19.90 in 
after-hours activity. 
In the broad_market Tuesday, winners edged losers by_21 to 17_on_Nasdaq_and 
by 16 to_14 on the New York Stock_Exchange. Trading volume was moderate. 
Some_analysts were impressed by the market's strength,_especially in the wake 
of the_downbeat productivity report. 
The government_said worker_productivity fell at a 0.1%_rate in the_first 
quarter,_the first decline_in five years. The report, though_not entirely 
unexpected,_raised fears about inflationary pressures in_the_economy. 
Productivity gains_had_helped_hold inflation_to a minimum_in_the late_1990s._
Long-term Treasury bond yields rose modestly_Tuesday_as traders registered 
their concern about inflation's_trend. 
The 10-year T-note_yield_ended at 5.24%, up_from 5.19% Monday. 
But shorter-term_yields continued to slide as traders_bet that_the Fed,_which 
meets Tuesday, will cut its key short-term lending rate for_a fifth time this 
year. 
The_six-month T-bill yield slid_to a_new_two-year low of_3.69%_from 3.72%_
Monday. 
Though the central bank may lower_short-term rates_further, the productivity 
report "increases the_likelihood that the Fed_will_have to reverse course 
next year,"_raising rates to contain inflation, Henry_Willmore, chief U.S. 
economist at_Barclays_Capital,_told Bloomberg News. 
Among Tuesday's_market highlights: 
* Financial stocks remained_under pressure on_concerns about loan losses and 
weaker borrowing_in_the struggling economy. American Express fell_$1.93_to 
$41.30 after Morgan Stanley downgraded_the_stock._
J