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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (1483)	9/15/2000 9:00:04 AM
From: Dealer	Read Replies (1) \| Respond to of 65232

<font color blue>MARKET SNAPSHOT--CPI fails to inspire Consumer prices off 0.1% in August By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:58 AM ET Sep 15, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - A benign consumer price index failed to keep the bulls in charge Friday as the good news was due to a fall in oil prices - a trend that has been violently reversed with the heady energy gains in September. The August consumer price index fell 0.1 percent versus expectations for a 0.2 percent rise - the index's first drop since 1986. And the core, which excludes food and energy components, added 0.2 percent, as expected. See full story. In the past year, consumer prices are up 3.4 percent; the core rate of inflation in the past year is 2.6 percent. See Economic Preview, economic calendar and forecasts and historical economic data. A fall in energy prices - the largest drop n nine years - kept the headline index under wraps in August. But that won't continue in September with crude oil futures hovering at $34. December S&P 500 futures shed 0.20 point and were trading roughly 0.80 point below fair value, according to HL Camp & Co. Nasdaq futures edged up 4.50 points, reversing most of their earlier gains. Meanwhile, Friday may see some extra volatility due to the simultaneous expiration of futures, options on individual stocks and options on stock indexes -- a quarterly event known as triple-witching. If pre-market trades are of any indication, shares of Oracle will put some pressure on the tech sector Friday. In fact, Oracle (ORCL: news, msgs) gave up $1.06 to $83.88 in Instinet following a 3.8 percent increase on Thursday. See Indications. The company unleashed its first-quarter results after the close, with earnings-per-shares of 17 cents, well ahead of the 13 cents expected by First Call. The company also declared a 2-for-1 stock split. See full story. In the meantime, markets are wading through a number of profit warnings from second-tier companies Friday, which could weigh on investors sentiment. Separately, Trim Tabs reported that all equity funds had zero inflows over the week ended Wednesday, Sept. 13 versus outflows of $800 million in the prior year. Equity funds that invest primarily in U.S. stocks witnessed inflows of $500 million vs. outflows of $500 million in the prior week, Trim Tabs said. Over in the Treasury market, prices continued to descend a day after long-dated issues took a veritable beating. The 10-year Treasury note dropped 6/32 to yield ($TNX: news, msgs) 5.82 percent and the 30-year Treasury bond slipped 21/32 to yield ($TYX: news, msgs) 5.86 percent. In the currency sector, dollar/yen (C_JPY: news, msgs) inched up 0.1 percent to 107.61 while euro/dollar (C_EUR: news, msgs) retreated 0.2 percent to 0.8625. Julie Rannazzisi is markets editor for CBS.MarketWatch.com.