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To: r.edwards who wrote (17112)	5/1/2000 10:33:00 AM
From: Dealer	Respond to of 35685

MARKET SNAPSHOT Microsoft shares rise Tech stocks remain in favor By Julie Rannazzisi, CBS MarketWatch Last Update: 9:48 AM ET May 1, 2000 Market Pulse Bond Report NEW YORK (CBS.MW) -- Investors remained enamored with technology stocks, taking the Nasdaq to higher ground for the third straight session on Monday. Internet, chip and networking issues remained well bid. And software stocks got a boost from a rise in Microsoft (MSFT: news, msgs) shares, which added 2 7/8 to 72 5/8 following news that federal and state antitrust authorities urged a federal judge late Friday to split the software behemoth into two companies. See full story. Over the past few weeks, Microsoft's legal woes have certainly been used as an excuse to dump tech shares but market watchers said Friday's news had already been priced into shares with last week's Microsoft drubbing. The Dow Industrials edged up 19 points, or 0.2 percent, to 10,753 at 9:47 a.m. The Nasdaq Composite climbed 42 points, or 1.1 percent, to 3,903. The Standard & Poor's 500 Index added 0.4 percent while the Russell 2000 Index of small-capitalization stocks rose 0.5 percent. Regional market coverage North America Europe Asia ADR Report Currency rates Intl' Indexes Volume came in at 62.4 million on the Big Board and at 112 million on the Nasdaq Stock Market. Winners outnumbered losers by 10 to 8 on the NYSE and by 17 to 8 on the Nasdaq. In earnings news, Niagara Mohawk Holdings earned 8 cents in the first quarter, two cents ahead of the First Call estimate. Shares (NMK: news, msgs) rose 1/8 to 13 7/8. Union Carbide (UK: news, msgs) checked in with a first-quarter profit from operations of 71 cents per share, in line with the First Call estimate. The stock rose 3/8 to 10 13/16. Tyson Foods [a: tsn] registered second-quarter earnings of 16 cents a share, ahead of the First Call estimate of 14 cents a share. Shares added 1/2 to 10 15/16. In the bond market, prices were mixed but remained close to the unchanged mark awaiting the mornings' economic data. Monday will see the release of the April National Association of Purchasing Management index, expected to come in at 56 percent, according to a survey conducted by CBS MarketWatch.com. The week will be a heavy one on the data front, culminating with Friday's employment report for April. View economic calendar and forecasts and historical economic data. The 10-year Treasury note lost 1/8 to yield 6.23 percent and the 30-year bond inched up 3/32 to yield 5.95 percent. See Bond Report. In currency markets, dollar/yen rose 0.5 percent to 108.28 after rallying to levels not seen in seven weeks on Friday. Euro/dollar continued its descent, losing 0.3 percent to 0.9090. In the commodity arena, June crude lost 19 cents to $25.55 while the Bridge CRB index gained 0.44 to 212.38. View latest commodity prices.