MARKET SNAPSHOT
Shares set for mixed open
Another earnings parade in store
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:54 AM ET Jul 17, 2000 NewsWatch
Latest headlines
NEW YORK (CBS.MW) - The stock market is girding for an open on the steady side as the futures markets failed to stray far from the unchanged mark.
September S&P 500 futures shed 1.00 points and were trading roughly 2.00 points below fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, added 7.00 points, or 0.2 percent.
In merger news, Georgia-Pacific (GP: news, msgs) said Monday it will buy Fort James (FJ: news, msgs) in a stock-and-cash deal worth about $11 billion. See full story. Under terms of its agreement, Georgia-Pacific will acquire all outstanding shares of Fort James for $29.60 per share in cash and 0.2644 shares of Georgia-Pacific Group stock.
On the economic front, Monday will see the release of May business inventories. The week's highlight is Tuesday's consumer price index. Also due out is the May trade balance and June housing starts and building permits. View Economic Preview, economic calendar and forecasts and historical economic data.
In the currency arena, dollar/yen added 0.8 percent to 108.64 while euro/dollar edged down 0.1 percent to 0.9368. See latest currency rates.
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Julie Rannazzisi is markets editor for CBS.MarketWatch.com. |
