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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (35539)	4/9/2001 8:09:33 AM
From: Dealer	Read Replies (1) of 65232

M A R K E T .. S N A P S H O T -- Stocks look for direction By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:35 AM ET Apr 9, 2001 NEW YORK (CBS.MW) - The major averages are looking to make some headway on the upside Monday following an ugly close to the week Friday. June S&P 500 futures gained 0.20 point and were trading roughly 4.20 points above fair value, according to HL Camp & Co. - suggesting modest upside at the open. But Nasdaq futures lost 2.00 points. First Call/Thomson Financial details that only 7 percent of the S&P 500 companies have thus far unveiled their quarterly results. The earnings compiler expects the final results for the first quarter to show a decline of 8 or 9 percent and expects the second quarter's decline to be even deeper - possibly 11 to 13 percent. In the Treasury market, prices traded mixed in early action. The 10-year Treasury note was off 1/32 to yield ($TNX) 4.89 percent while the 30-year government bond added 1/32 to yield ($TYX) 5.46 percent. No economic releases are on tap for Monday. The highlights on the economic front this week include March retail sales, the March producer price index and the Michigan consumer sentiment index. View Economic Preview and economic calendar and forecasts. In the currency arena, dollar/yen jumped 1.0 percent to 125.25 while euro/dollar edged down 0.3 percent to 0.9015. --------------------------------------------------------------------------------

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