M A R K E T -- S N A P S H O T:
Broad market looks to head north
Tech stocks lead on the upside
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:56 AM ET Dec 5, 2000
NEW YORK (CBS.MW) -- One day after the Dow Industrials stole the show, the Nasdaq played catch up, with technology stocks leading on the upside early Tuesday.
With hopes increasing that the presidential stalemate will soon lift, blue chips had the upper hand on Monday, with stocks perceived to perform well under a Bush administration reaping nice gains.
A state judge rejected Monday Vice President Al Gore's contest of Florida's election results, dealing a major blow to the Democratic nominee's presidential hopes. The Florida Supreme Court is now Gore's last hope of getting a recount.
December S&P 500 futures gained 10.90 points, or 0.8 percent, and were trading a comfortable 13.30 points above fair value, according to figures provided by HL Camp & Co. Nasdaq futures, meanwhile, added 78.50 points, remaining strong in the face of earnings warnings from Xilinx and 3Com.
Over in the bond arena, prices put on a mixed showing out of the gate, with the 10-year Treasury note up 1/8 to yield ($TNX) 5.535 percent while the 30-year government bond off 2/32 to yield ($TYX) 5.68 percent.
On eth economic docket, Tuesday will see the release of October factory orders, seen falling 2.1 percent following a 1.6 percent gain in the prior month. View Economic Preview, economic calendar and forecasts and historical economic data.
Cornering the currency market, dollar/yen slipped 0.4 percent to 110.66 while euro/dollar shed 0.3 percent to 0.8816.
Julie Rannazzisi is markets editor for CBS.MarketWatch.com in New York. |
