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To: Dealer who wrote (29073)	8/16/2000 7:59:11 AM
From: Dealer	Read Replies (1) \| Respond to of 35685

MARKET SNAPSHOT-- Stocks set to rise CPI due out By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:41 AM ET Aug 16, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) -Shares are eyeing an open in the plus column Wednesday as investors continue to digest earnings reports and brace for upcoming inflation data. September S&P 500 futures added 3.20 points, or 0.2 percent, and were trading roughly 6.40 points above fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, put on 15.00 points, or 0.4 percent. Wednesday will see the release of the July consumer price index, which is expected to rise by 0.2 percent both overall and at the core according to a survey of economists conducted by CBS MarketWatch.com. The number will be the last key indicator released ahead of the Fed's policy-setting meeting next week. But its importance has diminished in the market's eyes as the recent productivity data and employment figures have assured participants that the central bank can stand pat on rates on Aug. 22. An impressive report from Analog Devices (ADI: news, msgs) after the close Tuesday is likely to give the semis another nice boost on Wednesday. The company posted a third-quarter profit from operations of 43 cents after the close Tuesday, easily beating the First Call estimate of 37 cents share. The stock edged up 1/2 to 76 13/16 ahead of the news Tuesday. Over in the bond arena, prices traded in a mixed fashion ahead of the morning's dose of data. Also due out on the economic front are July housing starts, which are seen coming in at 1.55 million. View Economic Preview, economic calendar and forecasts and historical economic data. The 10-year Treasury note slipped 3/32 to yield ($TNX: news, msgs) 5.815 percent and the 30-year bond dipped 2/32 to yield ($TYX: news, msgs) 5.725 percent. In the currency market, the greenback continued to weaken against the yen, with dollar/yen (C_JPY: news, msgs) at 108.66, off 0.3 percent from the previous close. Euro/dollar (C_EUR: news, msgs), meanwhile, erased 0.6 percent to 0.9068. See latest currency rates.