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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (3705)9/26/2000 8:06:02 AM
From: Dealer  Read Replies (1) of 65232
 
<FONT COLOR=BLUE>MARKET SNAPSHOT--Weak open in store for shares
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 8:00 AM ET Sep 26, 2000

NEW YORK (CBS.MW) - Earnings warnings continue to hold down optimism and keep buyers at bay. On Tuesday, an early announcement from Dow-component Eastman Kodak that it will miss third-quarter estimates is likely to put another chink in the market's armor.

December S&P 500 futures shed 3.00 points but were trading right around fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, fell 20.00 points, or 0.5 percent.

On Monday, meanwhile, market participants couldn't shrug off the blues generated last Friday by Intel's earnings warning as the semiconductor bellwether put on another weak performance, dragging down the chip sector. The Philadelphia Semiconductor Index fell 5.0 percent.

Intel (INTC) tacked on 38 cents to $45.75 in Instinet pre-market dealings on Tuesday.

Julie Rannazzisi is markets editor for CBS.MarketWatch.com.
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