Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Dealer who wrote (43480)	10/23/2001 7:56:46 AM
From: Dealer	Read Replies (1) \| Respond to of 65232

M A R K E T .. S N A P S H O T -- Bulls remain confident Futures point to better open By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:46 AM ET Oct 23, 2001 NEW YORK (CBS.MW) -- The Nasdaq is looking to extend its winning streak to four straight sessions and the Dow Industrials to three when trading commences on Tuesday as the bulls' confidence appears to be holding up well in the face of another earnings downpour. Steve Young, senior market strategist for Banc of America Capital Management, notes that while the potential for still lower stock prices exists, a more favorable backdrop created by many key economic measures should help usher in the next bull market. He points to the significant declines in energy costs, interest rates, taxes and business inventories as precursors to stronger economic activity and stock prices in the coming months. "In these uncertain times, investors may continue to favor the comfort of large-company stocks. Big-cap stocks may also have the earnings growth advantage. Starting with this year's third quarter, earnings growth for big-cap companies will exceed that of their smaller-cap counterparts for the first time in four quarters. Once the economy accelerates though, smaller companies may assume a leadership role just as they have following previous recessions," Young said. Checking the futures markets, December S&P 500 futures piled on 7.30 points, or 0.7 percent, and were trading about 8.60 points above fair value, according to HL Camp & Co. And Nasdaq futures gained 17.00 points, or 1.2 percent while the Dow Jones Indicative Index climbed 18 points, or 0.2 percent, to 9,394. Tech stocks encountered a bid in early pre-open activity. Cisco Systems (CSCO) traded up 2 percent to $17.19 in Instinet dealings while Intel (INTC) was looking up 10 cents to $25.40 according to Madoff Securities. Over in the government bond arena, prices meandered close to the flat line. The 10-year Treasury note was off 2/32 to yield ($TNX) 4.64 percent while the 30-year government bond gained 2/32 to yield ($TYX) 5.38 percent. Fed Chairman Alan Greenspan will speak early Tuesday to the American Bankers Association. No economic news is due out for Tuesday. Check economic calendar and forecasts. In the currency sector, the dollar added 0.2 percent to 122.62 yen while the euro slipped 0.3 percent to 88.80 cents. --------------------------------------------------------------------------------