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To: Dealer who wrote (26042)	7/20/2000 8:05:00 AM
From: Dealer	Read Replies (1) of 35685

MARKET SNAPSHOT Market looks to recover Another earnings downpour By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:55 AM ET Jul 20, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - Another deluge of earnings will hit Wall Street Thursday and investors will get a chance to react to IBM's results, which were released after the close Wednesday. But the day's direction will likely be determined by Federal Reserve Chairman Alan Greenspan's testimony on monetary policy before the Senate Banking Committee Thursday morning. September S&P 500 futures rose 0.20 points and were trading roughly 3.90 points above fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, added 19.50 points, or 0.5 percent. On the economic front, Thursday will see the release of weekly initial claims as well as June housing starts, seen coming in at a 1.58 million rate. Also due out are building permits, seen coming in at a 1.50 million rate.View Economic Preview, economic calendar and forecasts and historical economic data. In the currency arena, dollar/yen slipped 0.1 percent to 108.17 while euro/dollar shed 0.2 percent to 0.9218. See latest currency rates. -------------------------------------------------------------------------------- Julie Rannazzisi is markets editor for CBS.MarketWatch.com.

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