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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Sully- who wrote (38873)	7/12/2001 8:03:15 AM
From: Dealer	Read Replies (1) of 65232

M A R K E T .. S N A P S H O T -- Shares poised for powerful rally By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:33 AM ET Jul 12, 2001 NEW YORK (CBS.MW) -- Emboldened by the earnings reports of stalwarts such as Motorola and Yahoo as well as well as Microsoft's upbeat news on revenue, investors looked to take shares sharply higher. September S&P 500 futures jumped a significant 13.70 points, or 1.2 percent, and were trading about 12.40 points above fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, surged 69.00 points, or 4.2 percent. Tech stocks lifted nicely in the pre-market, foreshadowing a positive session for a sector that has been marred by the continued flow of profit warnings over the past weeks. Not surprisingly, Treasury prices headed lower across the board. The bond market has been reacting inversely to stocks over the past weeks and has thus witnessed plenty of volatility intraday. The 10-year Treasury note was off 2/32 to yield ($TNX) 5.30 percent while the 30-year government bond shed 9/32 to yield ($TYX) 5.71 percent. On tap on the economic front Thursday: weekly initial claims and the June import and export price indexes. View and economic calendar and forecasts. In the currency arena, dollar/yen slipped 0.2 percent to 124.11 while euro/dollar edged down 0.4 percent to 0.8541 --------------------------------------------------------------------------------

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