10:00 ET Dow +32, Nasdaq -32, S&P -1.40: [BRIEFING.COM] Techs being shunned in early trading with hardware, Internet, software,
chip, chip equipment and networking leading on the downside. Also weak are homebuilders, biotech and telecom. Integrated oil and oil
drillers are providing leadership in the early going as are other cyclical sectors including paper, and chemicals....Chip equipment weak on
comments from Salomon Smith Barney that last week's semi equipment book-to-bill ratio makes the expectation of sequential order growth
seem more remote; firm expects NVLS and LRCX to lower guidance....Lucent (LU 8.51 -0.89) holders disappointed that the expected deal
with France's Alcatel (ALA 26.90 -1.21) will produce little to no premium over the current stock price...Consumer Confidence just released
at 115.5 vs consensus of 110.3. Initial market reaction is higher. NYSE Adv/Dec 1258/1210... Nasdaq Adv/Dec 1181/1761.
09:45 ET Dow +36, Nasdaq -32, S&P -2.70: [BRIEFING.COM] The cash market opens mixed with the Dow in positive territory while
the Nasdaq opens in the red. Banks, oil and tobacco stocks are providing leadership while techs are the laggards at the open on the
negative Goldman call on EMC and Sun. Storage, networkers, chip and chip equipment stocks are weak as traders are cautious heading into
Sun's mid-qtr conference call after the bell....Consumer Confidence due out ath the top of the hour. |
