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

To: RR who wrote (44171)	11/12/2001 8:21:12 AM
From: Dealer	Read Replies (1) \| Respond to of 65232

M A R K E T .. S N A P S H O T -- U.S. markets stuck in a range By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:52 AM ET Nov 12, 2001 NEW YORK (CBS.MW) -- U.S. markets are poised to open near the unchanged mark on Monday as investors brace for a busy week of earnings from the retailers and look to digest recent, hefty gains in the averages. In the futures markets, the December S&P 500 futures contract gave up 1.30 points, or 0.1 percent, but was trading about 0.70 point above fair value, according to HL Camp & Co. And Nasdaq futures lost 5.50 points, or 0.4 percent while the Dow Jones Indicative Index erased 10 points, or 0.1 percent, to 9,598. European markets traded lower, with London's FTSE 100 off 0.6 percent and France's CAC 40 down 1.6 percent. Among shares trading before the official opening bell, energy outfit Enron (ENE) rallied to $9.69 in European action, up $1.06 from Friday's close. Putting an end to speculation, Dynegy (DYN) announced late Friday that it was snapping up rival Enron for $7.8 billion in stock, or $10.40 a share. Dynegy estimated the merger would add at least 35 percent to its per-share earnings and generate $400 million to $500 million in annual savings. In the Treasury arena, markets are closed in observance of Veteran's Day. On Friday, the 10-year Treasury note closed down 7/32 to yield ($TNX) 4.31 percent while the 30-year government bond erased 5/32 to yield ($TYX) 4.88 percent. No economic news is due out Monday. The week's marquee events include the release of October retail sales on Wednesday and the October consumer price index on Friday. Check economic calendar and forecasts. In the currency sector, the dollar edged up 0.3 percent to 120.68 yen while the euro slipped 0.3 percent to 89.13 cents. --------------------------------------------------------------------------------