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

To: Dealer who wrote (4823)	10/1/2000 10:28:48 PM
From: Voltaire	Read Replies (2) \| Respond to of 65232

Fourtunes will be made by those that deduce from the right side and can understand what this company has in hand.. v

To: Dealer who wrote (4823)	10/2/2000 8:51:08 AM
From: Dealer	Read Replies (2) \| Respond to of 65232

<font color=blue>MARKET SNAPSHOT--U.S. shares set for a lift Q4 earnings trickle in this week By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:01 AM ET Oct 2, 2000 NEW YORK (CBS.MW) - The market appears ready to begin the new quarter of firm footing Monday, hoping to leave aside the ugly performance of the third quarter. December S&P 500 futures climbed 6.20 points, or 0.4 percent, and were trading roughly 5.50 points above fair value, according to figures provided by HL Camp & Co. Nasdaq futures, meanwhile, gained 34.50 points, or 1.0 percent. Among stocks seeing activity in the pre-market, Caterpillar dropped $3.75 below Friday's official NYSE close to $30 in light trading in Instinet. The Dow-component (CAT) warned late Friday that third-quarter earnings will be roughly 15 percent below the Wall Street consensus estimate of 68 cents a share due to euro and pound weakness, higher energy costs, and severe price pressures, among others. But Caterpillar confirmed its outlook for 2000, which was unveiled in July. In the latest merger news enveloping the financial sector, FleetBoston Financial Corp (FBF) announced Sunday it's acquiring Summit Bancorp (SUB) in a stock deal worth $7 billion in order to gain a greater foothold in New Jersey and in the metropolitan New York area. FleetBoston ended off 25 cents to $30 on Friday while Summit lost 13 cents to $34.38. The week's earnings news will be punctuated by reports from Micron Technology, Pepsico, Nautica, Net2Phone and Alcoa. As of Friday, third-quarter profit warnings totaled 257, up 25 percent from last year's levels, according to First Call. Still, though warnings were more numerous than usual, the magnitude of the downward revisions was fairly modest, the earnings compiler noted. Expectations for third-quarter earnings currently stand at 16.3 percent, down from the 18.1 percent expected on July 1. Treasury focus Treasurys traded in a mixed fashion out of the chute. The 10-year bond gained 1/32 to yield ($TNX) 5.805 percent while the 30-year Treasury bond erased 1/8 to yield ($TYX) 5.885 percent. A raft of closely-watched economic reports are on this week's agenda. The capstone is the September employment report, which includes the release of non-farm payrolls, the unemployment rate and average hourly earnings. Also on deck: August new homes sales, construction spending, leading economic indicators, and factory orders. In addition, the Federal Reserve will meet on Tuesday to decide the fate of short-term interest rates. But the upcoming meeting hasn't kept Wall Streeters awake at night with virtually no one anticipating a change to the current fed funds rate target of 6 1/2 percent. The central bank hasn't tweaked the rate since its rare 50-basis-point move on May 16. On tap for Monday is the September National Association of Purchasing Management Index as well as August construction spending. View Economic Preview, economic calendar and forecasts and historical economic data. In the currency market, the dollar saw its value rise against both the yen and the euro. In recent dealings, dollar/yen edged up 0.4 percent to 108.53 while euro/dollar gave up 0.3 percent to 0.8817. Julie Rannazzisi is markets editor for CBS.MarketWatch.com.