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

To: RR who wrote (38809)	7/11/2001 7:56:35 AM
From: Dealer	Respond to of 65232

M A R K E T .. S N A P S H O T -- More losses may materialize By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:28 AM ET Jul 11, 2001 NEW YORK (CBS.MW) - The warnings continue unabated, rendering it difficult for investors to display much enthusiasm for stocks. More selling pressure may emerge Wednesday to add to Tuesday's harrowing losses in the tech sector, which dragged the Nasdaq 3.2-percent lower and sent the Nasdaq 100 down 4.2 percent. In the futures markets, the September S&P 500 contract erased 1.10 points, or 0.1 percent, and was trading about 2.60 points below fair value, according to HL Camp & Co. figures. And the Nasdaq 100 contract lost 2.00 points, or 0.1 percent. Among shares trading before the official start of trading, Compaq rose 24 cents to $14. The company (CPQ) announced after the close Tuesday that it won't meet revenue targets in the second quarter but said it's on track to meet earnings-per-share targets. The PC maker also said it would eliminate an additional 1,500 jobs, citing a slowdown in the European economy. Treasury prices were generally stable, with minor gains developing across the board. The 10-year Treasury note advanced 3/32 to yield ($TNX) 5.26 percent while the 30-year government bond added 1/32 to yield ($TYX) 5.67 percent. No economic reports are on Wednesday's agenda. Data watchers will have to wait until Friday to get a glimpse of the week's meatiest releases: The June retail sales report, the producer price index and the Michigan Consumer Sentiment Index. View and economic calendar and forecasts. In the currency arena, dollar/yen shaved 0.6 percent to 124.51 while euro/dollar gained 0.6 percent to 0.8608. --------------------------------------------------------------------------------