<font color=blue>MARKET SNAPSHOT--Markets may take a breather
Futures point to sloppy open
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:57 AM ET Nov 1, 2000
NEW YORK (CBS.MW) - Equity markets appear poised to take a breather Wednesday after Tuesday's amazing price action with investors to ponder WorldCom's profit warning.
December S&P 500 futures gave up 5.70 points, or 0.4 percent, and were trading roughly 5.60 points below fair value, according to figures provided by HL Camp & Co. Nasdaq futures, meanwhile, slipped 35.00 points, or 1.1 percent.
Meanwhile, Treasury issues edged higher and the 10-year Treasury note eked out a 3/32 gain to yield ($TNX) 5.74 percent while the 30-year government bond added 3/32 to yield ($TYX) 5.785 percent.
Wednesday will see the release of the National Association of Purchasing Management Index, seen coming in at 49.6 percent in October. Also out is the Federal Reserve's report on business conditions, known as the Beige Book Report. View Economic Preview, economic calendar and forecasts and historical economic data.
Focusing on the foreign exchange market, dollar/yen slipped 0.3 percent to 108.45 while euro/dollar climbed 0.7 percent to 0.8544, hovering at its highest level since mid-October. The European Central Bank will meet to decide the fate of short-term interest rates on Thursday. |
