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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: Benny Baga who wrote (7100)	6/25/1999 8:36:00 AM
From: Rob C.	Respond to of 20297

BB, Here's a mention... By Ian Simpson NEW YORK, June 25 (Reuters) - Wall Street stocks are seen opening mixed Friday as U.S. markets focus on the weakest bond prices since late 1997. Analysts said there was little corporate news or economic data to enliven markets fixated on the sliding U.S. Treasury 30-year bond and a Federal Reserve meeting Tuesday and Wednesday to set short-term interest rates. Thom Brown, managing director of Rutherford Brown and Catherwood, said the market also could be hurt if big companies came out with poor earnings or more profit warnings. "We seem to be completely fixated on interest rates and earnings," he said. The recent fall in bond prices has hurt the blue-chip Dow industrials <.DJI> this week with a rising yield. The Dow fell 1.24 percent Thursday to 10,534.83, reacting to a rise in the long bond's yield to 6.16 percent, the highest since November 1997. The Dow is down 5.2 percent from its record close May 13. The technology-larded Nasdaq composite index <.IXIC> dropped 1.7 percent to 2553.99, down 2.7 percent off its record high in late April. The long bond strengthened 3/32 to yield 6.15 percent early Friday, helped in part by bargain-hunting and short-covering. "It looks like a marginally positive opening," said BillMeehan, chief market analyst at Cantor Fitzgerald in Darien, Conn. Markets are likely to shrug off economic data out Friday. Among them, the government will report final first-quarter real Gross Domestic Product at 8:30 a.m. EDT (1230 GMT). Analysts polled by Reuters expect a 4.2 percent rise in economic growth in the quarter, up slightly from 4.1 percent previously. Tokyo's Nikkei average <.N225> closed off 1.09 percent at 17,436.52. London's FTSE 100 gauge <.FTSE> was off 0.06 percent at 6412.8. The dollar weakened slightly against the yen to a bid of 121.34 yen. The euro firmed against the greenback to $1.0456 bid. The Standard & Poor's 500 futures index for September was up 0.5point at 1331.4. The Wall Street Journal's Heard on the Street column said some investors in CheckFree Holdings Corp.'s <CKFR.O> 3.8-million-share offering that was later pulled found out they didn't really own the shares that showed up in their brokerage accounts after the market closed Monday. The New York Times' Market Place column said Internet investors are finding they must confront a menagerie of potential products and deals to find a few that someday might pay off. 859-1879)) REUTERS Rtr 08:19 06-25-99 Copyright 1999, Reuters News Service Copyright © 1997 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. or such other notice as may be agreed by the parties in writing.