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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Sully- who wrote (37181)	5/23/2001 7:50:52 AM
From: Dealer	Read Replies (1) of 65232

M A R K E T .. S N A P S H O T -- Stocks poised for a setback By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:23 AM ET May 23, 2001 NEW YORK (CBS.MW) -- Tech and blue chips alike are bracing for a downside open Wednesday. For the Nasdaq, a close in the red would interrupt a six-day winning streak. Still, recent achievements are nothing to scoff at: the Nasdaq is at a 3-month high while the Dow Industrials has swelled to levels last seen back in January 2000. June S&P 500 futures fell 3.20 points, or 0.2 percent, and were trading about 2.50 points below fair value, according to HL Camp & Co. data. And Nasdaq futures gave up 16.50 points, or 0.8 percent. Government issues continued to trade mixed, with the 10- and 30-year segment coming under more pressure while short- and intermediate-term issues generated some modest gains following a brutal sell-off last week. The 10-year Treasury note was off 2/32 to yield ($TNX) 5.41 percent while the 30-year government bond lost 6/32 to yield ($TYX) 5.79 percent. Again no data is set for release on Wednesday. View Economic Preview and economic calendar and forecasts. Checking the currency space, dollar/yen dropped 1.4 percent to 121.09 while euro/dollar continued its descent, erasing 0.7 percent to 0.8585 and again hovering at levels not seen since late November.

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