Securities

It's been a bang-up year for the securities industry. But can Wall Street repeat this extraordinary performance in 2000? Although doubters have often been proven wrong on Wall Street in recent years, Morgan Stanley Dean Witter securities analyst Henry H. McVey says 1999's earnings will be hard to beat. He expects profits to be flat or slightly higher. And if the booming economy causes the Federal Reserve to hike interest rates, this could hurt corporate profits and depress the stock market, potentially injuring the entire industry.

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