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

To: Dealer who wrote (34079)	3/19/2001 8:54:45 PM
From: CAtechTrader	Read Replies (1) \| Respond to of 65232

O'Reilly certainly thinks Greenspan has some explaining to do.

To: Dealer who wrote (34079)	3/20/2001 8:13:29 AM
From: Dealer	Respond to of 65232

M A R K E T .. S N A P S H O T Stocks wait for Fed's decision By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:47 AM ET Mar 20, 2001 NEW YORK (CBS.MW) - U.S. shares are poised for a steady to modestly higher open Tuesday with investors treading lightly ahead of the Fed's decision on interest rates Tuesday afternoon. Most in the market are banking on a 50-basis-point rate cut from the central bank with a minority predicting an even more aggressive, 75-basis-point move. The Fed's decision on rates will hit the screens around 2:15 p.m. Checking the futures markets, June S&P 500 futures edged up 2.40 points, or 0.1 percent, and were trading roughly 0.50 point above fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, added 8.50 points, or 0.2 percent. In shares trading before the opening bell, chip equipment maker KLA-Tencor (KLAC) erased $1.75, or 4 percent, to $40 in Instinet. Late Monday, the company said sales are now expected to be 8 to 10 percent below its previous estimate while earnings-per-share will be under the 58 cents projected during its second-quarter earnings conference call. First Call/Thomson Financial had expected EPS of 51 cents for the third quarter. The company blamed deteriorating business conditions in the semiconductor industry for its shortfall. Over in the bond arena, prices were on the flat side out of the gate. The 10-year Treasury note was off 1/32 to yield ($TNX) 4.81 percent while the 30-year government bond shed 1/32 to yield ($TYX) 5.29 percent. In economic news, the February budget statement will be out Tuesday afternoon while the January trade balance, with a $33.8 billion deficit expected, will be out at 8:30 a.m. View Economic Preview and economic calendar and forecasts. In the currency arena, dollar/yen edged down 0.3 percent to 122.54 while euro/dollar gained 0.3 percent to 0.9013.