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

To: Dealer who wrote (4407)	9/29/2000 9:25:44 AM
From: qcompete	Read Replies (1) \| Respond to of 65232

Hi Dealie,did you notice premarket volume on SSTI 500000 shares block just traded. Good luck. qcompete

To: Dealer who wrote (4407)	9/29/2000 9:27:09 AM
From: Dealer	Read Replies (2) \| Respond to of 65232

<FONT COLOR=BLUE>MARKET SNAPSHOP--pple warning to weigh on market Futures struggle, pointing to sloppy open By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 9:20 AM ET Sep 29, 2000 NEW YORK (CBS.MW) - Apple Computer's earning warning is weighing on sentiment, and is likely to produce a very sloppy start for shares on Friday. December S&P 500 futures fell 5.00 points, or 0.3 percent, and were trading roughly 5.70 points below fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, shaved 46.00 points, or 1.2 percent. Apple (AAPL) warned late Thursday that it expects to earn between 30 and 33 cents a share in the fourth quarter due to slumping sales. First Call had expected earnings of 45 cents a share. The company said it would give Wall Street its longer-term growth targets when it reveals results on Oct. 18. The stock plunged $24.75, or 46 percent, to $28.75 in Instinet pre-market dealings. Another warning is making its way through the market as UAL Corp. said it expects to register a third-quarter loss and will probably register a third-quarter loss. First Call had been expecting a 97-cent-a-share gain in the third quarter and earnings of 63 cents per share in the fourth quarter. The parent of Unites Airlines said this summer's strike and higher fuel costs hurt revenues. The stock (UAL) fell 2.9 percent to $44 on Thursday. "Even though another disaster du jour in the form of Apple's announcement will likely shake the market to start the day, we would not be surprised if the end of the quarter rally resumes later today off the heels of Thursday's strength," said Brian Belski, fundamental market strategist at US Bancorp Piper Jaffray. Separately, Trim Tabs estimates that all equity funds had outflows of $3.8 billion during the week ended Sept. 27 versus inflows of $13.5 billion in the previous quarter. Equity funds investing primarily in U.S. stocks had outflows of $2.4 billion vs. inflows of $12.1 billion in the prior week. Turning to the Treasury arena, prices climbed, benefiting mildly from the dollar's strength and expected weakness in the equity market. The 10-year bond gained 1/32 to yield ($TNX) 5.805 percent while the 30-year Treasury bond rose 7/32 to yield ($TYX) 5.87 percent. Over on the economic docket, August personal income gained 0.4 percent versus expectations for a 0.3 percent increase while personal consumption expenditures climbed 0.6 percent compared to expectations for a 0.5 percent gain. Still due out is the Chicago Purchasing Managers index for September. View Economic Preview, economic calendar and forecasts and historical economic data. In the currency market, the dollar strengthened against both the yen and the euro. Investors digested news that Denmark rejected the European currency union late Thursday, with 53 percent voting against adopting the euro and 47 percent in favor. Euro/dollar slipped only 0.3 percent to 0.8763 on the Danish news as many would-be euro sellers stuck to the sidelines for fear of central bank intervention. The euro is up about 2 percent since last Thursday - the day before the Federal Reserve, European Central Bank and Bank of Japan jointly intervened to sustain the embattled currency.