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To: Boplicity who wrote (4611)	9/5/2000 9:23:07 AM
From: jjkirk	Respond to of 13572

09:15 ET: [BRIEFING.COM] Expectations for a weak start are becoming a little more entrenched as the futures trade has deteriorated in the wake of brokerage downgrades to Intel (INTC 73 15/16) and the drug sector... S&P futures are approximately 5 1/2 points below fair value which suggests an equivalent loss in the Dow of 40-45 points... The Treasury market is also under some post-holiday selling pressure as the bond is off 18 ticks at 5.70% as traders remain bothered by high crude prices and a somewhat overbought tone. 08:55 ET: [BRIEFING.COM] After a long weekend, it seems only fitting that the equity market is poised for a sluggish start... Presently, futures indications for the Dow, Nasdaq, and S&P are suggesting a modestly lower open... Intel (INTC 73 15/16) is among the negative influences at the moment as it is indicated more than 2 points lower in pre-market following a downgrade to BUY from STRONG BUY by Ashok Kumar at USB Piper Jaffray... The drug group is also expected to be a drag after Banc of America Securities lowered its rating to MARKET WEIGHT from OVERWEIGHT, issuing a downgrade of Merck (MRK 69 3/16) in the process... Separately, Worldcom (WCOM 36 15/16) is the focus of early-week M&A activity as it will be acquiring Intermedia Comms. (ICIX 22 7/8) for approximately $2.9 bln in cash stock.... The acquisition will also give WCOM a controlling interest in Digex (DIGX 84 1/2).