MARKET SNAPSHOT
Split screens to emerge
Futures markets point to mixed open
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:34 AM ET Aug 21, 2000 NewsWatch
Latest headlines
NEW YORK (CBS.MW) - The major averages appear poised to take separate paths once trading commences Monday.
September S&P 500 futures shed 0.50 points but were trading roughly 2.10 points above fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, lost 5.50 points, or 0.1 percent.
For this week, earnings reports will be few and far between. First Call said only 13 Standard & Poor's 500 companies have yet to reveal their results. Second-quarter earnings growth currently stands at 21.6 percent. Only 9 percent of companies missed estimates, First Call said.
While the outlook for the third-quarter remains positive, results aren't expected to be as good as in the second quarter. First Call estimates third-quarter profit growth at 17.6 percent.
In the bond arena, markets got off to a quiet start. The 10-year Treasury note edged up 1/32 to yield ($TNX: news, msgs) 5.775 percent and the 30-year bond erased 2/32 to yield ($TYX: news, msgs) 5.695 percent.
There is no data set for release on Monday. The economic highlights of the week include the durable goods report for July, existing home sales for July and the minutes of the Fed's July 27-28 policy -setting meeting. Monday will see the release of View Economic Preview, economic calendar and forecasts and historical economic data.
Julie Rannazzisi is markets editor for CBS.MarketWatch.com. |
