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

To: Captain Jack who wrote (78729)	2/24/2000 11:11:00 PM
From: Captain Jack	Respond to of 97611

Pos/neg Money flows--- New York--Feb 24--US stocks are viewed retaining a split personality as money flows from old-line blue chips to high-flying technology issues. The declines in bond yields, though, are seen as mostly running their course. * * * S&P 500 futures finished down 9 at 1355 in Chicago trade, or a point below fair value, indicating a slight bearish bent on the close. Nasdaq 100 futures ended ahead 107 at 4292. Fair value is at 4267, signaling strength in technology issues. US Mar Treasury bonds traded higher by 10/32 to 95 16/32. The yield on the 30-year cash bond, however, rose by 0.01 to 6.13% by 1600 ET, while the rate on the 10-year note fell 0.05 to 6.36%. The bond market saw selling in the long end and purchases in the shorter-term yields, said Scott Graham, head bond trader at Prudential Securities. "There was one large seller of a 30-year issue," he said. "There were some people taking profits, too." Graham sees yields trending up as a hike in the federal funds rate next month seems a certainty. "I think the market's ahead of itself," he said. Most of the shifting allocations in stocks were out of the Dow into the Nasdaq, he said. The Dow sank 133.10, or 1.3%, to 10,092.63. Volume on the NYSE was heavy at 1.17 billion shares. Declines trounced advances 2 to 1. The Nasdaq posted another record-high close, rising 67.32, or 1.48%, to 4617.65. Volume exceeded 1.94 billion shares as losers beat winners 6 to 5. Non-block money flow into listed stocks, which is the net of trades of less than 5,000 shares, was a slightly bullish $157.9 million. Among NYSE issues, money sailed most into Compaq Computer (CPQ), IBM (IBM) and Texas Instruments (TXN). Money flowed heaviest out of Wal-Mart (WMT), America Online (AOL) and Citigroup (C). Leading the market higher were oil service, computer hardware and semiconductor issues. Retail, gold and forest and paper stocks sank. Among S&P groups, specialty health care services, computer peripherals and communications equipment finished strong. Home furnishing textiles, lodging and metals mining closed most of their daily tops in percentage terms. Volume was most above the trailing 10-day average in percentage terms for gaming, alcoholic beverages and home furnishing textiles. Specialty health care services, footwear and building materials witnessed the relatively slowest trade.