To: FJB who wrote (3739 ) 12/16/1999 5:28:00 PM From: Proud_Infidel Respond to of 5867
biz.yahoo.com U.S. stock index futures end up in active trade CHICAGO, Dec 16 (Reuters) - U.S. stock index futures ended stronger Thursday, with solid technology stocks again providing a platform to launch contracts higher. March Nasdaq 100s set successive fresh contract highs and settled on its latest contract high of 3,384.00. While March Standard & Poor's 500 index futures also ended higher on tech stock strength, the contract's gains were capped by other stocks' less stellar performance, said Terence Gabriel, equity strategist at IDEAglobal.com. ''The S&P 500 is drugs and other consumer nondurable stocks that are well off their 52-week highs,'' he said. ''That's where you're getting a sort of balancing effect of strength in techs and weakness in these other stocks.'' Skyrocketing technology stocks may head back closer to earth into the new year when other sectors begin to attract more buyers, Gabriel said. ''You might get a relative strength shift where funds flow not exclusively into the Nasdaq, but are more spread out,'' he said. Gabriel expects March S&Ps to head as high as 1,520.00 into January, with his next objective for March Nasdaq 100s 3,700.00 in the new year. Nearby S&Ps did rally in afternoon trade, supported by a flurry of dealer buying, one stock index futures trader said. ''We were floating around between 1,427 and 1,431 for such a long time, and once we busted through 1,434 we ran into a pocket of stops,'' he said. However, the contract trimmed gains in the final minutes of pit trade on active dealer selling, the trader said. At settlement, March S&Ps were 8.50 points higher at 1,437.20, Dow futures up 23 at 11,380, Nikkeis up 40 at 18,125, Nasdaq 100s up 108.50 at 3,384.00, Russell 2000s up 7.25 at 471.50 and Midcaps up 4.00 at 423.50.