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Politics : Formerly About Applied Materials

AMAT 313.06

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2:51 PM EST

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From: Gottfried	3/25/2001 5:43:15 PM
	of 70976

Futures have little correlation to market next day... Biz Wk did a study >Trading records since the beginning of this year show that even in the first 15 minutes after the New York Stock Exchange and Nasdaq open at 9:30 a.m. (Eastern time), the markets move in the same direction as futures only a little more than half the time (table). This slim correlation is quite remarkable, considering that the pre-market futures on the S&P and the Nasdaq 100 trade until 9:15 a.m., and the Dow premarket futures trade right up to the opening of the stock markets. As the day's news moves the markets still further, the correlation barely changes, except for the S&P, where it gets a lot worse.< subscribers businessweek.com@@o0h@4WYQjV96tAcA/premium/content/01_14/b3726101.htm

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