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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Senator949 who wrote (74304)	12/21/1999 5:59:00 PM
From: Night Writer	Respond to of 97611

Robin, Quarter horses races are the only ones I have seen in person. All others have been on TV. They are also the fastest horses, but not for long. Didn't mean anything by it, but you do have a point. Check out the following story. CPQ in bold. NW US Equities Outlook: Rising bond yields present headwind By Tom Wolf, Bridge News New York--Dec 21--US stocks will look to add to Wednesday's gains on the open as the Federal Reserve decided to leave interest rates unchanged in order to smooth the transition into 2000. The Fed, however, left the door wide open for further rate hikes next year, which pushed bond yields higher. * * * S&P 500 futures finished up 19 to 1455 in Chicago trade, or 5 points above fair value, indicating strong bullish sentiment on the close. Nasdaq 100 futures ended up 152 to 3600. Fair value is at 3578. US Mar Treasury bonds traded off 7/32 at 91 2/32. The yield on the 30-year cash bond rose to 6.46% as bond dealers showed disappointment over the Fed's inaction. In its statement following the meeting, the Fed said growth is continuing to exceed the growth in potential supply "even after taking account of the remarkable rise in productivity." The Fed's reference to growth exceeding supply puts financial markets on notice that the Fed could tighten next year despite its retention of a neutral policy bias. The potential for 1 or 2 more rate hikes has already been discounted in the debt market, said Ted Nield, managing director of fixed income at John Nuveen. "I don't think there's any news here," said Nield, who expressed bewilderment over the rise in the long bond yield. "I think that (rate increases) is already built in." Companies expected to report earnings Wednesday include Arrow International (ARRO), Micron Technology (MU) and Worthington Industries (WTHG). The Dow added 56.27, or 0.5%, to 11,200.54. Volume on the NYSE was 963 million shares. Winners beat losers by less than 100 issues. The Nasdaq soared 127.18, or 3.36%, to 3911.05 to a record closing high on its biggest 1 point gain. Volume exceeded 1.4 billion shares. Advances beat declines by a narrow 9 to 8 margin. Non-block money flow into listed stocks was a healthy $513.6 million. Funds sailed most into Compaq Computer (CPQ), America Online (AOL) and Micron Technology (MU). The highest outflows were from Consolidated Natural Gas (CNG), Honeywell (HON) and Pfizer (PFE). Leading the market higher were biotechnology, software, semiconductor and Internet stocks. Transportation, drugs, auto and gaming issues generally lagged. In options activity, Columbia Energy (CG) Jan 60 and Jan 65 out-of-the-money calls traded 1,086 and 1,103 contracts, respectively. Columbia is continuing discussions with companies, including NiSource (NI), interested in buying all or part of Columbia for more than NiSource's current $74-per-share offer, the company said in a filing with the Securities and Exchange Commission. Jan 60 calls traded mostly at 4 1/2 to 4 5/8. The Jan 65 strike went off mostly between 1 5/8 and 1 15/16. Family Dollar Stores (FDO) Jul 15 calls witnessed trade of 2,507 contracts, which fetched 3 1/2, down 1/4. Previous-day open call interest was 37 contracts. ------------------------------------------------------------------------ - ON THE ECONOMIC CALENDAR: ------------------------------------------------------------------------- --0830 ET: Q3 gross domestic product (2nd-revision); (revised: GDP +5.5%, price deflator +1.1%, real final sales +4.6%; Forecast: GDP +5.5%, price deflator +1.1%, real final sales +4.6%) --0830 ET: Q3 corporate profits (revised); (preliminary: +3.0%) --1000 ET: University of Michigan final survey of December consumer sentiment; (Early Dec: 104.2, Nov: 107.2) --1330 ET: Treasury auctions $15.0 bln in 2-year notes (Previous: accepted rate 5.946%) --1430 ET: Treasury announces size of 13- & 26-week bills --1830 ET: ABC/Money Magazine releases consumer confidence polls ------------------------------------------------------------------------ - For daily technical analysis on the Dow Jones Industrial average and the S&P 500 index, see Story .306 For our daily corporate summary, see Story .1305 For today's earnings calendar, see Story .1301 ----------------------------------------------------------------------- End Bridge News, Tel: (212) 372-7568