M A R K E T .. S N A P S H O T -- Investors to take a cautious stance
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 8:01 AM ET Apr 24, 2001
NEW YORK (CBS.MW) - Investors are taking a cautious stance Tuesday, with the futures markets pointing to a flat to modestly lower open.
Market participants will have lots to ponder, with another deluge of earnings news out and a profit warning from fiber-optic giant JDS Uniphase.
June S&P 500 futures added 1.00 points, or 0.1 percent, and were trading roughly 3.20 points below fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, fell 9.50 points, or 0.5 percent.
In shares trading before the opening bell, shares of Compaq Computer (CPQ) changed hands at $20 in Instinet pre-market dealings, down 3 percent. The company missed Wall Street's expectations when it reported results after the close Monday.
JDS Uniphase (JDSU) saw its shares tumble 11 percent to $21.50 in the pre-market after warnings on its fourth quarter. The company also reported third-quarter results that matched Wall Street expectations.
In the government market, prices fumbled following Monday's positive price action.
The 10-year Treasury note was off 3/32 to yield ($TNX) 5.20 percent while the 30-year government bond shed 1/8 to yield ($TYX) 5.74 percent.
Tuesday will see the release of the April consumer confidence index, expected to come in at 112.1 vs. the previous month's 117. View Economic Preview and economic calendar and forecasts.
In the currency arena, dollar/yen edged up 0.1 percent to 121.34 while euro/dollar shaved 0.1 percent to 0.8962. |
