To: Dealer who wrote (4159 ) 9/28/2000 8:44:21 AM From: Dealer Respond to of 65232 <font color=blue>MARKET SNAPSHOT-- mixed open in store for shares Can market put aside earnings jitters? By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:32 AM ET Sep 28, 2000 NEW YORK (CBS.MW) - The market's recent swings and travails have been tied to earnings jitters, as investors price in expectations that growth will taper off in the next quarters. The uncertainty over the magnitude of the slowdown is creating the sometimes violent day-today sector shifts as investors look to separate the wheat from the chaff. Will buyers emerging Thursday stay the course or stray by the end of the day? December S&P 500 futures shed 0.50 point and were trading approximately 1.20 points above fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, lost 10.00 points, or 0.3 percent. In shares trading before the official start of trading, Exodus Communications (EXDS) added 25 cents to $53.50 in Instinet. See The company has reportedly resumed talks to acquire the web hosting unit of Global Crossing (GBLX) named GlobalCenter. On Wednesday, the Separately, Treasury prices improved marginally, with long-dated issues witnessing most of the buying interest ahead of the morning's buyback operation. Treasury will buy back $1.0 billion in 30-year issues Thursday -- with maturities ranging from Feb. 2010 to Nov. 2014. The 10-year bond eked out a gain of 2/32 to yield ($TNX) 5.815 percent while the 30-year Treasury bond put on 6/32 to yield ($TYX) 5.90 percent Thursday's economic agenda includes the release of weekly initial claims and the final revision to second-quarter gross domestic product. Economists are expecting the figure to be upwardly revised to show a 5.4 percent growth rate. View Economic Preview, economic calendar and forecasts and historical economic data. In the currency arena, dollar/yen edged up 0.3 percent to 107.60 while euro/dollar erased 0.1 percent to 0.8825. The fledgling currency has remained on a stable trajectory since last Friday's concerted intervention effort on the part of the European Central Bank, Federal Reserve and Bank of Japan to buy euros. Observers say the central banks will be on alert to intervene again should Denmark decide not to join the single currency in the national referendum to take place Thursday. A "no" vote, in fact, is seen undermining the already waning confidence in the currency. Julie Rannazzisi is markets editor for CBS.MarketWatch.com.