<FONT COLOR=BLUE>MARKET SNAPSHOT: 8:17
Markets look to gain at the open
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 8:17 AM ET Oct 31, 2000
NEW YORK (CBS.MW) - The broad market is poised for some modest gains at the start of trading Tuesday with technology issues also perking up.
Market participants have been rotating into cyclical issues and out of technology in recent sessions, giving the Dow Industrials a nice 4.4-percent gain in three straight sessions of advances. The Nasdaq, home of many technology stocks, hasn't been so lucky and has seen 2.5 percent of its value lopped off over the past three sessions.
December S&P 500 futures gained 1.80 points, or 0.1 percent, and were trading roughly 3.40 points above fair value, according to HL Camp & Co. Nasdaq futures, in the meantime, were trading up 40.50 points, or 1.3 percent.
Among shares seeing activity before the official opening bell, Cisco Systems (CSCO) inched up 19 cents $48.25 in Instinet dealings. The stock was hard hit on Monday, losing as much as 10.7 percent at its nadir, effectively frustrating Nasdaq attempts to gain some ground.
Turning to the bond arena, prices clung to the flat line, with the 10-year Treasury note up 1/32 to yield ($TNX) 5.70 percent while the 30-year bond erased 3/32 to yield ($TYX) 5.76 percent.
Tuesday will see the release of October consumer confidence, seen coming in at 140.2, and September new home sales, expected at 888,000. View Economic Preview, economic calendar and forecasts and historical economic data. |
