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To: Clappy who wrote (28115)	8/7/2000 9:15:09 AM
From: Dealer	Respond to of 35685

MARKET SNAPSHOT Equities brace for gains Market awaits some key earnings reports By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:55 AM ET Aug 7, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - Shares are bracing for some gains once trading commences Monday after last week's choppy action. September S&P 500 futures rose 1.80 points, or 0.1 percent, and were trading roughly 1.40 points above fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, climbed 23.50 points, or 0.6 percent. On the earnings front, 18 S&P 500 companies will report this week, bringing the total of those having reported to 464. Among the tech companies reporting are Cisco Systems, Applied Materials and Dell Computer. A number of retailers, including Wal-Mart, Federated Dept. Stores, Gap and Kmart, will reveal their results this week. Among shares trading before the opening bell, Cisco Systems (CSCO: news, msgs) inched up 3/16 to 65 3/4, Madoff Investment Securities in London said. See Indications. Cisco will unleash its fourth-quarter results after the close Tuesday. First Call estimates earnings-per-share of 15 cents. Separately, Trim Tabs reported that U.S. equity funds lost $2.3 billion in the three trading sessions ending Aug. 3. Aggressive growth funds lost $1.7 billion while technology funds lost $437 million -- the largest outflow on record for any survey period in the five years that Trim Tabs has tracked the sector. Trim Tabs also notes that stock market liquidity has turned "dramatically negative," standing at minus $11 billion during the five days ending last Thursday - the worst showing since Trim Tabs began tracking these flows. The huge influx of new offerings has put a cap on market gains. Trim Tabs notes that last week's $10.4 billion in new offerings was the most since the week ended Feb. 4. Trim Tabs said September has been one of the best months for stock market performance since 1995 thanks to slower new offerings as well as increased equity fund flows. In the bond market, prices were a sliver lower in early activity. The 10-year Treasury note edged down 3/32 to yield 5.915 and the 30-year bond slipped 3/32 to yield 5.72 percent. The only economic report on tap for Monday is June consumer credit. The highlights of the week include the second-quarter productivity report, the July retail sales report and the producer price index for July. View Economic Preview, economic calendar and forecasts and historical economic data. The government market must also process $25 billion in new issuance: $10 billion in 5-year notes on Tuesday; $10 billion in 10-year notes on Wednesday; and $5 billion in 30-year bonds on Thursday. In the currency arena, dollar/yen added 0.2 percent to 108.82 while euro/dollar added 0.1 percent to 0.9084. See latest currency rates. Julie Rannazzisi is markets editor for CBS.MarketWatch.com.