M A R K E T ...S N A P S H O T
Searching for buyers
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:15 AM ET Jan 3, 2001
NEW YORK (CBS.MW) - The U.S. markets are searching for buyers Wednesday, with futures prices pointing to a modestly higher open, following a truly dismal performance on Tuesday that was particularly hurtful to tech stocks.
Consider this: From peak to trough, the Nasdaq has lost 55.7 percent of its value.
March S&P 500 futures rose 1.30 points, or 0.1 percent, and were trading roughly 2.60 points above fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, climbed 12.50 points, or 0.6 percent.
Treasury prices took a break after staging a powerful rally on Tuesday that took long-term yields near two-year lows.
The 10-year Treasury note shed 2/32 to yield ($TNX) 4.93 percent while the 30-year government bond gave up 1/8 to yield ($TYX) 5.35 percent.
Wednesday will see the release of November construction spending, seen increasing 0.1 percent. View Economic Preview, economic calendar and forecasts and historical economic data.
In the currency arena, dollar/yen traded near flat levels at 114.45 while euro/dollar edged up 0.4 percent to 0.9542. |
