MARKET SNAPSHOT
Some selling to emerge at the open
Market awaits plethora of data
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:43 AM ET Aug 1, 2000 NewsWatch
Latest headlines
NEW YORK (CBS.MW) -- The U.S. equity market is poised for a sloppy open Tuesday after rebound on Monday that took the tech sector sharply higher.
Market watchers don't expect any scintillating moves by the major averages ahead of Friday's employment report and believe the range will remain king for the short term.
September S&P 500 futures shed 0.60 point and were trading roughly 3.40 points below fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, fell 20.50 points, or 0.6 percent.
A gaggle of economic news will be out Tuesday morning: the July NAPM, expected at 52.4 percent; June personal income, seen rising by 0.5 percent, and June personal consumption expenditures, expected to rise by 0.4 percent; and June construction spending, seen edging up 0.1 percent. View Economic Preview, economic calendar and forecasts and historical economic data.
In the bond market, prices were close to the unchanged mark, with the 10-year Treasury note flat to yield 6.035 and the 30-year bond off 1/32 to yield 5.78 percent.
In the currency arena, dollar/yen added 0.3 percent to 109.65 while euro/dollar edged up 0.1 percent to 0.9262. See latest currency rates.
Julie Rannazzisi is markets editor for CBS.MarketWatch.com. |
