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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: stockman_scott who wrote (46209)	1/11/2002 8:07:37 AM
From: Dealer	Read Replies (1) of 65232

M A R K E T .. S N A P S H O T -- Stocks set to gain traction By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:04 AM ET Jan 11, 2002 NEW YORK (CBS.MW) --U.S. shares are poised to notch some gains on Friday as investors brace for a speech from Fed chair Alan Greenspan on the economy. With stocks banking that the recession is on its last legs and the bond market already factoring in the possibility of rate hikes later in the year, investors will be closely monitoring Greenspan's tone for signs that a change in policy -- perhaps a shift to a neutral stance on rates from the current bias towards easing -- is imminent. In the futures markets, the March S&P 500 futures contract added 0.40 point and was trading about 2.30 points above fair value, according to HL Camp & Co. And Nasdaq futures shaved 2.00 points. Over in the government bond arena, prices lost some minor ground across the board. The 10-year Treasury note was down 2/32 to yield ($TNX) 4.98 percent while the 30-year government bond declined 2/32 to yield ($TYX) 5.42 percent. Friday will see the release of the producer price index, expected to have declined 0.2 percent in December and to have increased 0.1 percent at the core, which excludes food and energy components. Check economic calendar and forecasts. In the currency sector, the dollar lost 0.1 percent to 132.10 yen while the euro edged up 0.1 percent to 89.18 cents.

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