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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (9406)10/24/2000 8:41:14 AM
From: Dealer  Read Replies (1) of 65232
 
<font color=blue>MARKET SNAPSHOT--Markets look to upside open
Another chorus of earnings

By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:35 AM ET Oct 24, 2000

NEW YORK (CBS.MW) - The markets are girding for an upside open Tuesday with another parade of earnings news to set the tone.

The chip sector may come under pressure following a profit warning from National Semiconductor (NSM), which fell substantially in pre-market trading.

December S&P 500 futures rose 1.10 points, or 0.1 percent, but were trading a significant 10.60 points above fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, gained 39.000 points, or 1.1 percent.

In the government arena, prices wandered in negative territory in early dealings. The 10-year Treasury note slipped 1/8 to yield ($TNX) 5.605 percent while the 30-year bond erased 13/32 to yield ($TYX) 5.71 percent.

No data is due out for Tuesday. The week's capstone - the third-quarter employment cost index -- will hit the tape on Thursday. Also due out late in the week is the third-quarter gross domestic product. View Economic Preview, economic calendar and forecasts and historical economic data.

Cornering the currency market, dollar/yen shed 0.1 percent to 108.12 while euro/dollar traded at flat levels at 0.8357.
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