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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (36276)4/26/2001 7:37:45 AM
From: Dealer  Read Replies (1) of 65232
 
M A R K E T .. S N A P S H O T -- Equities ready for sloppy start
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:25 AM ET Apr 26, 2001

NEW YORK (CBS.MW) - Investors appear ready to take stocks lower once trading opens Thursday after a vigorous push by buyers late Wednesday, which handed both the Dow Industrials and Nasdaq decent gains.

In shares trading before the official opening bell, Lucent Technologies (LU) rose 25 cents to $10.50 after France's Alcatel said it's bidding for Lucent's fiber-optic segment.

June S&P 500 futures slipped 4.00 points, or 0.3 percent, and were trading about 6.10 points below fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, erased 12.00 points, or 0.7 percent.

Government bond issues failed to stray far from the unchanged mark. The best buying interest was clustered in the belly of the yield curve, as five- and 10-year issues saw the greatest gains.

The 10-year Treasury note was up 1/8 to yield ($TNX) 5.25 percent while the 30-year government bond added 2/32 to yield ($TYX) 5.775 percent.

Thursday will see the release of the first-quarter employment cost index - the broadest measure of wage costs - seen rising 1 percent. View Economic Preview and economic calendar and forecasts.

In the currency space, dollar/yen increased 0.2 percent to 122.40 while euro/dollar edged down 0.1 percent to 0.8965.

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