<FONT COLOR=BLUE>MARKET SNAPSHOT--Techs look to extend gains
Investors will get a glimpse of jobs report
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:51 AM ET Nov 3, 2000
NEW YORK (CBS.MW) - The tech sector is looking to extend gain on Friday, but investors' enthusiasm hinges on the strength or weakness of the employment report, to be released shortly.
December S&P 500 futures climbed 5.50 points, or 0.4 percent, and were trading approximately 1.70 points above fair value, according to HL Camp & Co. Nasdaq futures added 37.50 points, or 1.1 percent.
The jobs data for October includes the non-farm payrolls figures, seen rising by 183,000. The unemployment rate is expected at 4.0 percent while averages hourly earnings are seen rising by 0.3 percent. View Economic Preview, economic calendar and forecasts and historical economic data.
In the government arena, prices eked out a gain ahead of the data. The 10-year Treasury note added 2/32 gain to yield ($TNX) 5.73 percent while the 30-year government bond gained 1/8 to yield ($TYX) 5.77 percent.
Cornering the foreign exchange market, dollar/yen fell 0.6 percent to 107.58 while euro/dollar rallied 1.9 percent to 0.8734, its highest level since early October, as the European Central Bank intervened to support its fledgling currency early Friday. The ECB said it remains concerned about the global and domestic repercussions of the exchange rate of the euro. See related story. |
