Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Captain Jack who wrote (79357)	3/10/2000 6:31:00 PM
From: Night Writer	Read Replies (2) \| Respond to of 97611

(COMTEX) B: US Equities Outlook: Tech sector looks to cool in near te B: US Equities Outlook: Tech sector looks to cool in near term By Tom Wolf, Bridge News New York--Mar 10--US stocks are viewed treading water on the open after a late sell-off Friday. Technology issues showed signs of tiring after a record setting week. * * * Equity futures finished mixed. S&P 500 futures finished down 5 at 1417, but 4 points above fair value indicating a moderate bullish bent on the close. Nasdaq 100 futures ended down 2 at 4667, or 5 points above fair value of 4662. US Jun Treasury bonds traded lower by 13/32 to 94 7/32. The yield on the 30-year cash bond climbed to 6.18%, while the rate on the 10-year note was up 0.04 to 6.38%. No major economic news is due out Monday, but traders are seen turning cautious ahead of the February retail sales report due out before the bell. More heavy weight reports are scheduled for release later in the week, including the February producer and consumer price indexes. More earnings warnings are expected as well as the confession season heats up. Once again, the Nasdaq managed a new record closing high despite a late day sell-off. Market strategists saw no looming changes, however, in the overall market pattern. "It's same old, same old," said Arun Kumar, senior strategist at Lehman Brothers. "Our view is the Fed is trying to slow down the economy and will raise rates 4 more times this year," Kumar said. He expects the quarter-point hikes to end in August, with the S&P 500 climbing back to 1500 by year end. "The brunt of the (rate hike) effect will be felt by the industrial companies," he said. "You still have risk to industrial, retail and financial stocks." "Technology and Internet companies are not viewed as having a problem with the hikes at this time." Kumar said. He sees companies still consuming technology products to lower costs and improve profit margins, Companies expected to report earnings Monday include EchoStar Communications (DISH) and Solectron (SLR). The Dow fell 81.91, or 0.82%, to 9928.82. Volume on the NYSE was heavy at 1.13 billion shares. Declines beat advances 17 to 12. The Nasdaq rose 1.78, or 0.04%, to 5048.64. Volume topped 1.99 billion as losers whipped winners 19 to 16. Non-block money flow into listed was a mildly bullish $287.7 million. Among NYSE issues, money flowed most into Compaq Computer (CPQ), Tyco International (TYC) and General Electric (GE). Funds fled Procter & Gamble (PG), America Online (AOL) and National Semiconductor (NSM). Leading the market higher were brokerage, semiconductor and airline issues. Gold, retail and insurance stocks slumped. Among S&P 500 groups, photo imaging, airline and electric companies finished near their daily tops in percentage terms. Household non-durable products, biotechnology and truckers ended weak. Volume was most elevated for truckers, service and photo imaging groups. Trade was slow for engineering and construction, long-term health care and hospital management. ------------------------------------------------------------------------ - ON THE ECONOMIC CALENDAR: ------------------------------------------------------------------------ - --About 1330 ET: Treasury announces results of its auction of $16.0 bln in 13- & 26-week bills; (Previous: 13-week accepted rate 5.690%, 26-week 5.825%) ------------------------------------------------------------------------ - 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 Send comments to Internet address: equity@bridge.com [symbols:US;SPX:US;COMP:US;DJI:US;CPQ:US;TYC:US;GE:US;PG:US;AOL:US;NSM] The Bridge ID for this story is 01307 * end of story *