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: abstract who wrote (44373)	11/21/2001 8:31:52 AM
From: Dealer	Respond to of 65232

M A R K E T .. S N A P S H O T -- Shares set for slightly lower open By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:00 AM ET Nov 21, 2001 NEW YORK (CBS.MW) -- U.S. shares are set to open on a sour note during this pre-holiday session Wednesday as a drop in Microsoft shares weigh on the tech sector. In the futures markets, the December S&P 500 futures contract gave up 3.70 points, or 0.3 percent, and was trading about 3.10 points below fair value and Nasdaq futures lost 9.50 points, or 0.6 percent. The Dow Jones Indicative Index, meanwhile, erased 43 points, or 0.4 percent, to 9,857. Among shares trading before the official opening bell, Microsoft (MSFT) last traded at $63.50 in Instinet action, a $1.90 drop from the New York close. The software giant agreed Tuesday to settle pending private antitrust lawsuits against it. If the agreement is approved by a judge, the company said it will take an after-tax charge amounting to 6 to 7 cents a share in the quarter ended Dec. 31. The stock saw its rating lowered by Salomon Smith Barney Wednesday morning. See full story. Australian miner WMC rejected on Wednesday a $5.9 billion takeover offer from Alcoa (AA), deeming it too cheap. The company's board instead proposed splitting off a major joint venture with the U.S. aluminum behemoth from WMC's other operations to form two independently listed companies. Treasury prices were mostly higher, with most of the gains concentrated in the long end of the curve. The 10-year Treasury note was up 3/32 to yield ($TNX) 4.86 percent while the 30-year government bond climbed 10/32 to yield ($TYX) 5.295 percent. On the economic front, Wednesday will see the Michigan consumer sentiment index and October Treasury budget statement. Check economic calendar and forecasts. In the currency sector, the dollar gained 0.3 percent to 122.95 yen while the euro shaved 0.4 percent to 87.87 cents. --------------------------------------------------------------------------------