Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Dealer who wrote (20957)	11/30/2000 8:12:44 AM
From: Dealer	Respond to of 65232

<font color=blue>MARKET SNAPSHOT Bears look to stomp on Wall Street Gateway miss to hit an already bruised tech sector By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:42 AM ET Nov 30, 2000 NEW YORK (CBS.MW) - A profit warning from Gateway dashed hopes of a recovery in techland, with stocks set to open deep in the red Thursday. Gateway (GTW) hit the market with a whammy late Wednesday, revealing that it expects revenue and earnings-per-share for the fourth quarter to come in "significantly lower" than Wall Street estimates due to weaker-than-expected consumer holiday sales. In addition, Gateway guided EPS estimates for 2001 lower. The stock tumbled $10.00, or 34 percent to $19.50 in Instinet pre-market trading. The futures markets painted a pretty dismal picture for the market. December S&P 500 futures slipped 11.00 points, or 0.8 percent, and were trading roughly 22.00 points below fair value, according to figures provided by HL Camp & Co. Nasdaq futures, meanwhile, fell 61.50 points, or 2.4 percent. On Wednesday, the Nasdaq closed at another low for the year and is down 47 percent from its all-time high set on March 10. Treasury prices edged higher as investors sought the safety of the fixed-income market. The 10-year Treasury note gained 6/32 to yield ($TNX) 5.50 percent while the 30-year government bond jumped 1/8 to yield ($TYX) 5.64 percent. On the economic front, Thursday will see the release of October personal income, expected to rise 0.2 percent, and personal consumption expenditures, seen rising 0.3 percent. Also out: the weekly initial claims figures. View Economic Preview, economic calendar and forecasts and historical economic data. Cornering the currency market, dollar/yen slipped 0.4 percent to 110.84 while euro/dollar rallied 1.2 percent to 0.8683.