NEW YORK, NY, August 14, 2002 — StreetInsider.com (http://www.streetinsider.com), the leading market rumor reporting and tracking service, announced today that its July market sentiment index came in at 74.2, versus the June reading of 85.7. The market sentiment index measures the mood of the market by tracking the number of rumors that have a positive tone versus those that have a negative tone. As the index drops it indicates a higher level of negative rumors on Wall Street. July’s reading is the lowest since the index was developed in 1999. The highest reading was 323.5, which occurred at the top of the market bubble in early spring of 2000.
"The July reading confirms the negative mood of the markets. When news of bankruptcies, SEC investigations, and corporate fraud start making headlines investors get jittery and rumors spread fast," stated Lon Juricic, Managing Director of StreetInsider.com. "Many of the rumors turn out to be false, but they still can have a dramatic effect on stock prices. In July many companies addressed the rumors directly, issuing press releases and holding conference calls. This is a drastic change in corporate response to market rumors and is a testimony to investors’ pleas for more corporate transparency."
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Contact:
Lon Juricic
StreetInsider.com
248-593-6536
http://www.streetinsider.com
