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Technology Stocks : AT&T -- Ignore unavailable to you. Want to Upgrade?

To: Henry Niman who wrote (2751)	8/9/1999 7:49:00 AM
From: polarisnh	Respond to of 4298

Dow seen firmer, America up on AT&T hopes LONDON, Aug 9 (Reuters) - U.S. stocks were expected to open higher on Monday, with bargain hunters likely to emerge following the market's recent retreat from record highs, and as major European bourses posted steady gains, dealers said. The September S&P 500 index future traded around five points above its estimated fair value of 1,306.1 by 1023 GMT, signalling a 40 to 50 points opening gain by the Dow. "I think we could see a few people looking for bargains early on but there is not a great deal for investors to focus on," said a dealer in London. The Dow has slipped around 495 points or 4.4 percent since reaching a record closing high on July 16, amid growing fears the Federal Reserve would hike interest rates after its next monetary meeting due on August 24. In the same period the technology-heavy Nasdaq Composite index has fallen some 11 percent from its peak. Many dealers said an interest rate hike was now priced into leading U.S. stocks after a series of strong economic data last week, culminating in a surprisingly large figure for new jobs last month on Friday. On the corporate front, America Online (quote from Yahoo! UK & Ireland: AOL.L) was the main feature after a newspaper report said phone giant AT&T Corp (NYSE:T - news) and the Internet service provider were considering a deal to grant AOL and possibly other ISPs ``enhanced access' to AT&T cable systems for Internet links. AOL shares traded around $3-5/8 higher at $88-1/2 in Frankfurt. Elsewhere, market bellwether Microsoft (Nasdaq:MSFT - news) traded up $1-1/8 at around $86-1/4. No major economic data was due on Monday.