M A R K E T .. S N A P S H O T -- Markets on hold ahead of Fed
By Julie Rannazzisi, CBS.MarketWatch.com
Last Update: 7:43 AM ET Nov 6, 2001
NEW YORK (CBS.MW) -- Better-than-expected results from Cisco Systems are aiding the futures markets on Tuesday, though investors appear timid following Monday's scintillating rally and ahead of the Fed's decision on interest rates.
December S&P 500 futures added 1.80 points, or 0.2 percent, and were trading about 1.30 points above fair value, according to HL Camp & Co. Nasdaq futures added 9.50 points, or 0.6 percent, while the Dow Jones Indicative Index rose 7 points, or 0.1 percent, to 9,447.
In the pre-open, Cisco traded at $18.79 in European action. Cisco (CSCO) posted after the close Monday a fiscal first-quarter profit from operations of 4 cents a share, besting the Thomson Financial/First Call estimate by two cents.
Treasury prices backpedaled after another rousing rally on Monday, which added to the gigantic gains registered in the long end of the yield curve last week.
The 10-year Treasury note gave up 1/4 to yield ($TNX) 4.32 percent while the 30-year government bond fumbled 14/32 to yield ($TYX) 4.88 percent.
No data is on tap for Tuesday. The main events due out later in the week include the October producer price index and the third-quarter productivity figures. Check economic calendar and forecasts.
In the currency arena, the dollar erased 0.4 percent to 121.10 yen while the euro inched up 0.1 percent to 89.78 cents.
-------------------------------------------------------------------------------- |
