To: Dealer who wrote (28906 ) 8/15/2000 8:45:40 AM From: Dealer Read Replies (1) | Respond to of 35685 MARKET SNAPSHOT Shares heading for sloppy open Futures markets point to mild losses By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:18 AM ET Aug 15, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - U.S. stocks are set for an open on the sloppy side Tuesday with futures prices pointing to weakness in both the tech sector and the broader market. September S&P 500 futures shed 1.60 points, or 0.1 percent, 2.60 points below fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, slipped 3.00 points, or 0.1 percent. In merger news, Canada's Nortel Networks (NT: news, msgs) announced it will purchase Sonoma Systems, a firm that delivers high-speed video, data and voice over a single connection, in a $540 million stock deal. The deal is expected to close in the fourth quarter of 2000 and will result in the issuance of about 6.9 million in Nortel common shares. The company said the acquisition is projected to be neutral to earnings in 2000 and slightly accretive to earnings from operations in 2001. Nortel shares ended up 3 1/4 to 79 1/4 on Monday. Over in the bond market, prices checked in with minor losses in early trading. The 10-year Treasury note shed 1/8 to yield ($TNX: news, msgs) 5.80 percent and the 30-year bond lost 2/32 to yield ($TYX: news, msgs) 5.70 percent. Tuesday's economic docket will see the release of July industrial production, seen rising by 0.4 percent, and capacity utilization. View Economic Preview, economic calendar and forecasts and historical economic data. In the currency arena, the dollar traded close to flat levels against the yen but weakened against the euro. In recent action, dollar/yen (C_JPY: news, msgs) added 0.1 percent to 109.45 while euro/dollar (C_EUR: news, msgs) rose 0.7 percent to 0.9123. See latest currency rates. Julie Rannazzisi is markets editor for CBS.MarketWatch.com.