M A R K E T..S N A P S H O T--7:33--Warnings to keep investors cautious
Kodak, AMD, Dallas Semi, DoubleClick warn
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:33 AM ET Dec 12, 2000
NEW YORK (CBS.MW) - A string of profit warnings are likely to keep a lid Tuesday on the enthusiasm that emerged over the past couple of trading sessions.
The shortfalls are taking place in both the tech sector and the broader market as the economy slows, with investors in the thick of the pre-announcement season.
But amid the bad news, market observers have found a silver lining: Stocks have had a less violent, more muted reaction to recent company confessions, suggesting that prices are already factoring in a certain degree of bad news.
March S&P 500 futures fell 4.10 points, or 0.3 percent, and were trading roughly 3.20 points below fair value, according to HL Camp & Co. And Nasdaq futures slipped 27.50 points, or 0.9 percent.
In the Treasury arena, prices remained lower for a third straight session. The 10-year Treasury note shed 7/32 to yield ($TNX) 5.39 percent while the 30-year government bond gave up 2/32 to yield ($TYX) 5.75 percent.
No economic news is set for release on Tuesday will all eyes on Wednesday's scheduled release of the retail sales report for November. View Economic Preview, economic calendar and forecasts and historical economic data.
Focusing on the currency market, dollar/yen edged up 0.4 percent to 111.20 while euro/dollar lost 0.1 percent to 0.8780. |
