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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (36987)	5/18/2001 7:46:08 AM
From: Dealer	Read Replies (1) of 65232

M A R K E T .. S N A P S H O T -- Buyers look to take a backseat By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:32 AM ET May 18, 2001 NEW YORK (CBS.MW) -- Buyers may take a step to the sidelines Friday after snapping up stocks over the past couple of trading days. The futures markets are pointing to some modest downside at the open with June S&P 500 futures off 3.20 points, or 0.2 percent. That's roughly 2.70 points below fair value, according to figures provided by HL Camp & Co. Nasdaq futures were also a touch lower, losing 5.00 points, or 0.3 percent. In the Treasury arena, which has seen some wild back-and-forth moves since the Fed's decision to lower rates on Tuesday, prices edged higher. The 10-year Treasury note was up 1/8 to yield ($TNX) 5.395 percent while the 30-year government bond added 6/32 to yield ($TYX) 5.745 percent. On Friday's economic agenda is the release of the March trade gap, which is expected to reveal a $29.2 billion deficit. View Economic Preview and economic calendar and forecasts. In the currency arena, dollar/yen put on 0.8 percent to 123.48 while euro/dollar slid 0.7 percent to 0.8762. --------------------------------------------------------------------------------

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