M A R K E T .. S N A P S H O T -- Stocks to take a respite
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:48 AM ET Oct 19, 2001
NEW YORK (CBS.MW) - U.S. stocks are girding for an open on the downside as investors prepare to absorb an avalanche of data as the earnings flow ebbs on Friday.
Checking the futures markets, December S&P 500 futures gave up 5.50 points, or 0.5 percent, and were trading about 3.40 points below fair value, according to HL Camp & Co. Nasdaq futures lost 18.50 points, or 1.4 percent while the Dow Jones Indicative Index erased 7 points, or 0.1 percent, to 9,156. .
On the fund flow front, Trim Tabs reported that equity funds had inflows of $10.6 billion over the five business days ending Oct. 17, compared with outflows of $3.2 billion during the prior week. And equity funds that invest primarily in U.S. stocks got inflows of $9.0 billion vs. outflows of $1.2 billion the previous week. Finally, bond funds had inflows of $600 million compared with inflows of $1.1 billion during the prior week.
In the Treasury sector, prices got a nice bounce in the long end.
Over in the government bond arena, the 10-year Treasury note was up 1/4 to yield ($TNX) 4.545 percent while the 30-year government bond climbed 14/32 to yield ($TYX) 5.29 percent.
Friday will see a deluge of economic data: the September consumer price index -- expected to rise 0.3 percent overall and 0.2 percent at the core -- September real earnings, and the August trade figures, expected to reveal a deficit of $28.6 billion.
In the currency arena, the dollar edged up 0.1 percent to 121.11 yen while the euro slid 0.4 percent to 90.01 cents.
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