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

To: Sully- who wrote (43891)	11/5/2001 8:15:34 AM
From: Dealer	Respond to of 65232

M A R K E T .. S N A P S H O T -- Dow looking to make it three in a row By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:01 AM ET Nov 5, 2001 NEW YORK (CBS.MW) -- Gains in the futures markets foreshadow a positive open for the Dow Industrials and Nasdaq Monday, which the former looking to extend its winning streak to three consecutive trading days. But a looming earnings report from tech bellwether Cisco Systems could keep the bulls from becoming too aggressive. In the futures markets, the December S&P 500 contract climbed 4.50 points, or 0.4 percent, and was trading about 5.40 points above fair value, according to HL Camp & Co. Nasdaq futures gained 11.50 points, or 0.8 percent while the Dow Jones Indicative Index erased 12 points, or 0.1 percent, to 9,310. The after-hours spotlight will shine on networking monolith Cisco (CSCO), which will reveal its fiscal first-quarter results late Monday. Thomson Financial/First Call estimates EPS of 2 cents. Shares of Cisco edged up 49 cents to $17.75 in the pre-open. Meanwhile, investors are bracing for Tuesday's Federal Open Market Committee meeting, which is expected to produce the tenth rate cut this year. The debate over whether the Fed will cut rates by 25 or 50 basis points is likely to keep Wall Street guessing on Monday. The fed funds futures market is pricing in a 100 percent chance of a 1/4 percentage point rate cut and an over 60 percent chance of a 50-basis-point slash. Treasury bonds resumed their upward trajectory in early trading Monday after a one-day siesta on Friday. The 10-year Treasury note swelled 1/8 to yield ($TNX) 4.34 percent while the 30-year government bond jumped 18/32 to yield ($TYX) 4.92 percent. Only the October non-manufacturing NAPM Index is set for release on Monday. Data highlights of the week include the release of the third-quarter productivity figures, the October import and export price indexes, the October producer price index and the Michigan consumer sentiment index. Check economic calendar and forecasts. In the foreign exchange arena, the dollar added 0.3 percent to 122.05 yen while the euro gave back 0.7 percent to 89.50 cents. --------------------------------------------------------------------------------