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

To: Dutch who wrote (19136)	11/24/2000 8:47:21 AM
From: Dealer	Read Replies (2) \| Respond to of 65232

<font color=blue>MARKET SNAPSHOT--Stocks set for smashing open By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:44 AM ET Nov 24, 2000 NEW YORK (CBS.MW) - Judging by the bullish action in the futures markets, the major averages are poised for whopper gains at the open Friday - finally something investors can give thanks for. December S&P 500 futures put on a smashing 14.90 points, or 1.1 percent, and were trading roughly 10.20 points above fair value. Nasdaq futures, meanwhile, climbed 77.00 points, or 2.9 percent. The Nasdaq has been bleeding heavily in recent sessions -- closing down for five straight trading sessions and witnessing its lowest close in 13 months Wednesday. The index is down an astounding 46 percent from its all-time intra-day high set on March 10. Market observers say a technical bounce from oversold conditions is in the offing, particularly with the thin volumes likely to punctuate Friday's trading session. Among the bellwethers registering gains in pre-market trading, Cisco Systems (CSCO) tacked on $1.94 to $52.50. I2 Technologies (ITWO) saw its shares slide $6.13 to $100.50 over the Island ECN following news late Wednesday that chief operating officer Robert Evans resigned. Commenting on the news, CS First Boston said in a note to clients that it doesn't expect Evans' departure to have an impact on financial results and is not a leading indicator of additional departures. The brokerage maintained its "strong buy" rating on the stock and said I2 Technologies remains one of its top picks despite the recent pullback. The stock market will observe a 1 p.m. ET close on Friday while the bond market will cease trading at 2 p.m. Turning to the election machinations, the Florida Supreme Court refused Thursday to force Miami-Dade officials to finish a hand recount. Attorneys for Vice President Al Gore promised to contest any results from the county. On Wednesday, a sequel of events on that front produced violent short-term swings in the market's major averages. In the government bond market, prices slid, giving back some of Wednesday's heady gains, as they continued to trade inversely to stocks. The 10-year Treasury note fell 1/8 to yield ($TNX) 5.64 percent while the 30-year government bond slid 11/32 to yield ($TYX) 5.69 percent. No economic numbers are due out Friday. The pace of releases will pick up next week but investors will have to wait until Dec. 8 to get a glimpse of the month's most crucial piece of news - the December employment report. With the Fed focused on the tight labor market, the next jobs report will take on perhaps even more significance as investors brace for an FOMC meeting on Dec. 19 and hope for a passage to a neutral stance on interest rates. View Economic Preview, economic calendar and forecasts and historical economic data. Cornering the currency market, the dollar rallied 0.9 percent to 111.17 yen, cracking the 111 mark in intra-day dealings for the first time since February 25. Euro/dollar added 0.5 percent to 0.8434.