TQNT RFMD hammered pre mrkt....futs up , we been thru this before with NOK
Nasdaq Bear Mkt Is Fastest Drop In History
8:42 (Dow Jones) Nasdaq's bear market drop of 53% in 301 days is the fastest
decline in U.S. history and has resulted in the wealth destruction of more
than $3.3 trillion, says Arnhold & S. Bleichroeder technical analyst John
Roque. The current precentage decline is the second-worst U.S. bear market
ever, surpassed only by the 89% decline for the DJIA from Sept. 3, 1929, to
July 8, 1932. (GS)
8:40 (Dow Jones) While the economy isn't in recession, growth levels are
slowing, says Merrill Lynch's Bruce Steinberg. He's looking for a 1.5% to 2%
first quarter GDP and 2% growth during the first half of the year. In
addition, Steinberg is betting on a half point rate cut at the Jan. meeting
and a 5% funds rate by June. (MSD)
8:33 (Dow Jones) Trader says overnight and early morning losses in bond
futures resulted from Fed speakers bringing to surface idea that U.S. may be
avoiding recession. "The doom and gloom is not as bad as people have been
thinking it is," trader says. (CMN)
8:30 (Dow Jones) Bargain hunters helped the Nasdaq and DJIA close Monday
near their highs for the day. However, because of the light volume, it's
doubtful the rally has any legs - and the stock futures indicate just that.
S&P, Dow and Nasdaq futures suggest a lower open. Nokia getting hit hard in
premarket trading after reporting sales of its mobile phones rose 64% in
2000. A good number but less than what analysts were expecting. Nokia's
news, which is cutting 16% off its shares in Europe, will affect Motorola
and Ericsson as well as others in the tech world. (GS) |
