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

To: Sully- who wrote (37245)	5/24/2001 8:41:59 AM
From: Dealer	Read Replies (1) \| Respond to of 65232

M A R K E T .. S N A P S H O T -- Markets heading for steady open By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:35 AM ET May 24, 2001 NEW YORK (CBS.MW) -- Stock prices are poised for a generally steady open Thursday with some modest buying interest emerging in the technology arena following Wednesday's beating. June S&P 500 futures gained 1.50 points, or 0.1 percent, and were trading about 0.50 point above fair value, according to figures provided by HL Camp & Co. And Nasdaq futures, meanwhile, gained 10.50 points, or 0.5 percent. In shares trading before the opening bell, retailer Gap (GPS) rose almost 4 percent following an upgrade to a "strong buy" from a "buy" by Lehman Brothers. Treasury issues climbed, gaining momentum across the board. The 10-year Treasury note rose 1/8 to yield ($TNX) 5.375 percent while the 30-year government bond added 11/32 to yield ($TYX) 5.77 percent. In economic news Thursday, weekly initial claims rose 15,000 to 407,000. Still due out are the April new home sales figures, expected to come in at 978,000. In addition, Fed chief Alan Greenspan will be speaking in Manhattan late in the day at the Economic Club of New York. View Economic Preview and economic calendar and forecasts. In the currency arena, the euro stabilized after collapsing against the yen on Wednesday and weakening further vs. the dollar. The euro/yen gyrations produced a tumble in dollar/yen as well, which remained lower on Thursday as well. In recent trading, dollar/yen lost 0.1 percent to 119.90 while euro/dollar edged up 0.4 percent to 0.8586. --------------------------------------------------------------------------------