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

To: OldAIMGuy who wrote (978)	5/22/2000 8:41:00 AM
From: Rainy_Day_Woman	Read Replies (1) \| Respond to of 1691

Morrning Grizz~ I bookmarked the link in the pic you look like the grand wizard Is this the suggested attire for participants? roasted? this morning's warm up: NEW YORK, May 22 (Reuters) - U.S. stocks were seen opening higher on Monday, as buyers scout for bargains after last week's selloff over concerns of higher borrowing costs. ``I think we are going to bounce a little,'' said Arthur Hogan, chief market analyst at Jefferies & Co. ``We are short- term overdone. It's just that we continue to have ongoing worries about interest rates.'' With more than an hour to go before the opening bell, the Standard & Poor's 500 index futures for June were up four points to 1,419, while the Nasdaq 100 index futures was up 25 points to 3,305. With little economic news on which to focus, analysts said the market could continue to fret about the prospect of more interest rate hikes with the Fed's rate-setting committee set to meet again in late June. The Federal Reserve warned of more rate hikes to come last Tuesday as it boosted rates 50 basis points. Wall Street will listen for any clues from Federal Reserve Bank of Chicago President Michael Moskow, who is set to discuss ``Monetary Policy and the Economy: A Policymaker's Perspective,'' in Kalamazoo, Mich at 4:00 p.m. EDT (2000 GMT). Moskow is a voting member of the Federal Open Market Committee. ``We're in a discounting mode,'' said Peter Cardillo, director of research at Westfalia Investments. ``The big question is are we preparing for a 25 or 50 basis point interest rate hike?'' Bond prices strengthened in early action, with the 10-year U.S. Treasury note up 3/32, driving the yield down to 6.48 percent from Friday's close of 6.50. The 30-year bond edged up 1/32 with the yield flat with Friday's close of 6.21 percent. On Friday, the Nasdaq composite (^IXIC - news) dropped 148.31 points, or 4.19 percent, to 3,390.40, dragged lower by top technology names and other computer-chip, Internet and biotechnology stocks. The Dow (^DJI - news) fell 150.43 points, or 1.40 percent, to 10,626.85, pulled down by financial, automotive and telecom stocks. Also beaten back were the Standard & Poor's 500 index, (^SPX - news), down 30.26 points on Friday or 2.11 percent to 1,406.95, and the Wilshire 5000 (^TMW - news) -- which reflects nearly the entire U.S. equity market -- down 299.86 points, or 2.26 percent, to 12,980.74. Among the stocks expected to move, Performance Technologies Inc. (NasdaqNM:PTIX - news), a wireless telecommunications and networking products supplier, said Friday that second-quarter operating results will be below estimates because of a shipment delay and lower than expected orders from two major customers. Its stock closed at 28-1/4 ahead of the news. Bank of America Corp. (NYSE:BAC - news) and software maker BroadVision Inc. (NasdaqNM:BVSN - news) said Monday that they have agreed to form a new company to build internal Web sites that companies can offer their employees. Bank of America closed at 49-11/16 while BroadVision closed at 42-3/4 ahead of the news. WebMethods Inc. (NasdaqNM:WEBM - news) announced plans Monday to acquire Active Software Inc. (NasdaqNM:ASWX - news) in a stock deal valued at $1.3 billion. WebMethods closed at 87 while Active Software closed at 33 Friday. Software firm Vignette Corp (NasdaqNM:VIGN - news) said it would buy Internet software firm OnDisplay Inc. (NasdaqNM:ONDS - news) in a deal valued at about $1.7 billion. Vignette closed at 43-13/16 while OnDisplay closed at 53-1/4 ahead of the news.