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To: Captain Jack who wrote (67185)	9/1/1999 9:21:00 AM
From: Elwood P. Dowd	Respond to of 97611

Wednesday September 1, 8:30 am Eastern Time Wall Street expected to rally at open By Amy Collins NEW YORK, Sept 1 (Reuters) - Wall Street stocks were expected to rally at the open Wednesday, making up for four days of losses and preparing for key economic news later in the week. The Standard & Poor 500 futures index for September was up 5.50 points at 1,325. The 30-year U.S. Treasury bond was down 3/32, with its yield, which moves in the opposite direction of the price, at 6.07 percent. ''Again, it looks like we're going to open on a firm note, but I'm not so sure that's a good thing,'' Bill Meehan, chief market analyst at Cantor Fitzgerald in Darien, Conn., said, referring to the spate of recent higher opens that soured within minutes. Meehan said several factors pointed to a strong open: optimism that Tuesday afternoon's slight recovery would continue, firm overseas markets and indications the bond would not slip. ''I think we're ready for some type of technical rally,'' said James Volk, co-director of institutional trading at D.A. Davidson and Co. in Portland, Ore. On Tuesday the Dow Jones industrial average rallied somewhat from a 128-point slide to close 84 points lower, or 0.78 percent, to end at 10,829. The Nasdaq composite index rose 26 points, or 0.98 percent, to 2,739 and the Standard & Poor's 500 stock index fell 3 points, or 0.27 percent, to 1,320. Meehan said the Dow and S&P got hit in the final 30 minutes of trading with sell programs that are likely to come back into play Wednesday. He said that after four down days, no bad news on the horizon for the day and company news in the hotel and semiconductor industries, the markets should be ready to make up for losses.