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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: stockman_scott who wrote (39106)	7/17/2001 7:33:34 AM
From: Dealer	Read Replies (3) of 65232

M A R K E T .. S N A P S H O T -- Are more losses forthcoming? By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:22 AM ET Jul 17, 2001 NEW YORK (CBS.MW) -- Equity investors appear unwilling to step up to the plate as they prepare for Tuesday's onslaught of earnings news. September S&P 500 futures fell 3.40 points, or 0.3 percent, and were trading about 1.30 points below fair value, according to HL Camp & Co. And Nasdaq futures slipped 12.50 points, or 0.7 percent. Among shares seeing activity in the pre-market, Novellus Systems (NVLS) slipped $1.87 from Monday's closing level. . The company posted after the close Monday second-quarter earnings of 40 cents a share, in line with the company's expectations. First Call/Thomson Financial had expected earnings-per-share of 39 cents. But revenue was 4 percent below the company's target. Government issues retreated after witnessing decent gains over the past few trading sessions. The 10-year Treasury note was off 1/8 to yield ($TNX) 5.19 percent while the 30-year government bond lost 7/32 to yield ($TYX) 5.595 percent. On Tuesday's economic calendar: June industrial production, seen declining 0.5 percent, which would make it the ninth straight month of declines. Also due out: capacity utilization, seen coming in at 76.9 percent from May's 77.4 percent. View and economic calendar and forecasts. In the currency segment, dollar/yen inched down 0.2 percent to 125.19 while euro/dollar lost 0.1 percent to 0.8518.

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