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Strategies & Market Trends : the Women of SI -- Ignore unavailable to you. Want to Upgrade?

To: Madeleine Harrison who wrote (938)	4/4/2000 9:16:00 AM
From: Rainy_Day_Woman	Read Replies (1) \| Respond to of 1691

Mads! did you survive? what a meltdown. I was oblivious to it most of the day, being in recoup mode. did I get a shock when I finally rejoined the human race shopping day in the market I think WR is a darling and a keeper. and yes, more than 5 men any day. did you know WR and I share the same birthday? that's how we met, in a way :-) will peek at the Stayhealthy thread. how did I show up there? prolly cause I am the epitome of health! the warm up, encouraging NEW YORK, April 4 (Reuters) - U.S. stocks are likely to open firmer on Tuesday as technology shares bounce back from a meltdown fueled by an antitrust decision against Microsoft Corp. (NasdaqNM:MSFT - news). Analysts said the Microsoft-inspired 7.64 percent drop in the technology-laden Nasdaq on Monday could draw bargain-hunters and short-term buyers, at least at the opening. ``It looks like we're going to open up pretty positive,' said Bill Meehan, chief market analyst at Cantor Fitzgerald in Darien, Conn. ``I expect we'll also see a decent bounce in the Nasdaq.' The Standard & Poor's 500 futures index for June was up 1.9 points at 1530.1. After U.S. markets closed on Monday, a federal judge ruled that Microsoft broke U.S. antitrust law by abusing its monopoly in personal computer operating systems. Before the widely expected decision, the Nasdaq composite index (^IXIC - news) sank 349.15 points to 4,223.68, its biggest single-day point loss and the fifth biggest in percentage terms. The close was its lowest in two months. However, the blue-chip Dow Jones industrial average (^DJI - news) closed up 300.01 points, or 2.75 percent, at 11,221.93, its highest close since Jan. 21. Microsoft itself closed down 15-3/8 at 90-7/8, slicing about $80 billion off its market value. The company's shares were up at 93 in pre-opening trade on Tuesday on the Instinet electronic broker system. Thom Brown, managing director of Rutherford Brown and Catherwood, said the Nasdaq was likely to continue to lose ground. The index has dropped 16 percent since March 10. ``The Nasdaq will get a brief bounce at the opening, but I don't think the correction in the Nasdaq is over,' he said. Wall Street will be weighing a series of pre-announcements of company results. Among them, information services company Unisys Corp. (NYSE:UIS - news) said its first-quarter revenues would be lower than expected but earnings would remain in the forecast range. Fairchild Semiconductor International Inc. (NYSE:FCS - news) also raised its outlook for first-quarter sales and earnings. Tokyo's Nikkei average closed down 132.06 points, or 0.64 percent, at 20,594.93. London's FTSE 100 gauge (^FTSE - news) was off 26.2 points, or 0.41 percent, at 6,435.9. The dollar strengthened against the yen to a bid of 105.54 overnight. The euro slipped to $0.9548 bid. The U.S. Treasury 30-year bond was off 12/32 and was yielding 5.84 percent. The Wall Street Journal's Heard on the Street column said professional investors were opting for safe havens in stocks and avoiding technology issues. The New York Times' Market Place column said the wipeout of the Nasdaq market extended beyond Microsoft's pummeling. morning