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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (5290)	1/9/2001 8:46:26 AM
From: 2MAR$	Read Replies (1) \| Respond to of 8925

TQNT RFMD hammered pre mrkt....futs up , we been thru this before with NOK Nasdaq Bear Mkt Is Fastest Drop In History 8:42 (Dow Jones) Nasdaq's bear market drop of 53% in 301 days is the fastest decline in U.S. history and has resulted in the wealth destruction of more than $3.3 trillion, says Arnhold & S. Bleichroeder technical analyst John Roque. The current precentage decline is the second-worst U.S. bear market ever, surpassed only by the 89% decline for the DJIA from Sept. 3, 1929, to July 8, 1932. (GS) 8:40 (Dow Jones) While the economy isn't in recession, growth levels are slowing, says Merrill Lynch's Bruce Steinberg. He's looking for a 1.5% to 2% first quarter GDP and 2% growth during the first half of the year. In addition, Steinberg is betting on a half point rate cut at the Jan. meeting and a 5% funds rate by June. (MSD) 8:33 (Dow Jones) Trader says overnight and early morning losses in bond futures resulted from Fed speakers bringing to surface idea that U.S. may be avoiding recession. "The doom and gloom is not as bad as people have been thinking it is," trader says. (CMN) 8:30 (Dow Jones) Bargain hunters helped the Nasdaq and DJIA close Monday near their highs for the day. However, because of the light volume, it's doubtful the rally has any legs - and the stock futures indicate just that. S&P, Dow and Nasdaq futures suggest a lower open. Nokia getting hit hard in premarket trading after reporting sales of its mobile phones rose 64% in 2000. A good number but less than what analysts were expecting. Nokia's news, which is cutting 16% off its shares in Europe, will affect Motorola and Ericsson as well as others in the tech world. (GS)