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

To: Dealer who wrote (36601)	5/4/2001 8:20:52 AM
From: Dealer	Read Replies (1) \| Respond to of 65232

All eyes on jobs data Shares poised for sloppy start By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:02 AM ET May 4, 2001 NEW YORK (CBS.MW) - Shares are poised for a mixed open Friday with the market focused on the looming release of the April jobs report. Checking the numbers, June S&P futures erased 0.10 point and were trading about 1.30 points above fair value, according to HL Camp & Co. Nasdaq futures, in the meantime, rose 14.00 points, or 0.7 percent, relinquishing earlier losses. The soft labor market has been the Fed's chief and was behind its move to lower rates between meetings on April 18. Friday's employment report will be the last release available to the central bank before the May 15 Federal Open Market Committee meeting. A survey conducted by CBS MarketWatch.com expects non-farm payrolls to have risen by 21,000 in April vs. March's 86,000 decline. The jobless rate is seen edging up to 4.4 percent while average hourly earnings are seen rising by 0.3 percent. View Economic Preview and economic calendar and forecasts. Among shares trading before the official opening bell, Dow stock Procter & Gamble (PG) slipped 27 cents to $64 in London action. Procter & Gamble and Japan's Kao Corp are reportedly expected to submit final bids for Bristol-Myers Squibb's (BMY) Clairol hair-care unit in a sale that could generate up to $5 billion. Separately, fund flow tracker Trim Tabs estimated that all equity funds got a $14.9 billion inflow in the week ended May 2. That compared to inflows of $100 million during the prior week. And equity funds that invest primarily in U.S. stocks saw an infusion of $11.3 billion compared with inflows of $1.6 billion the previous week. In the Treasury segment, prices extended Thursday's smashing gains, albeit at a more modest pace. The 10-year Treasury note rose 3/32 to yield ($TNX) 5.195 percent while the 30-year government bond gained 5/32 to yield ($TYX) 5.635 percent. In the currency space, dollar/yen inched up 0.1 percent to 121.39 while euro/dollar edged down 0.2 percent to 0.8915.