MARKET SNAPSHOT--
Markets gird for mixed open
Will H-P set the tone?
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:58 AM ET Aug 17, 2000 NewsWatch
Latest headlines
NEW YORK (CBS.MW) - While the broad market looks firm, some weakness is developing in the tech arena Thursday, as indicated by the slump in Nasdaq futures.
Will Hewlett-Packard's impressive earnings - released after the close Wednesday - give tech investors reason to cheer?
Dow-component H-P (HWP: news, msgs) rose 7 1/16 above its NYSE close to 118 1/2 in Instinet pre-market dealings. See Indications. The PC maker checked in with third-quarter earnings of 97 cents a share, beating the First Call estimate of 85 cents a share. The company also announced a 2-for-1 stock split.
September S&P 500 futures lost 1.50 points, or 0.1 percent, and were trading roughly 3.20 points above fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, slipped 13.50 points, or 0.4 percent.
In the bond arena, prices chiseled out tiny gains out of the gate. The 10-year Treasury note edged up 2/32 to yield ($TNX: news, msgs) 5.83 percent and the 30-year bond rose 1/32 to yield ($TYX: news, msgs) 5.74 percent.
The only economic report on tap for Thursday is the Philadelphia Fed Index for August. View Economic Preview, economic calendar and forecasts and historical economic data.
In the currency market, the dollar fell against the yen for a third session in a row. Dollar/yen (C_JPY: news, msgs) shed 0.2 percent to 108.35 while euro/dollar (C_EUR: news, msgs) slipped 0.4 percent to 0.9119. See latest currency rates.
Julie Rannazzisi is markets editor for CBS.MarketWatch.com. |
