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

To: altair19 who wrote (44489)	11/28/2001 9:10:54 AM
From: Dealer	Respond to of 65232

M A R K E T .. S N A P S H O T -- Buyers shy, shares looking down By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 9:07 AM ET Nov 28, 2001 NEW YORK (CBS.MW) -- Stock prices are poised to decline for a second session Wednesday following a day of extremely jumpy dealings on Tuesday that saw the averages slip in and out of negative terrain. December S&P 500 futures gave up 6.20 points, or 0.5 percent, and were trading around 6.00 points below fair value, according to HL Camp & Co. And Nasdaq futures lost 20.50 points, or 1.3 percent, while the Dow Jones Indicative Index erased 27 points, or 0.3 percent, to 9,844. Chipmaker behemoth Intel saw its shares falter 1.2 percent in the pre-open following a report in a Taiwan newspaper that it may be unable to meet demand for its Pentium 4 processor as PC sales pick up. The stock (INTC) has certainly seen plenty of crosscurrents: on Tuesday Intel told investors at a CS First Boston Technology Conference that it's becoming more comfortable with its fourth-quarter outlook, stoking a rally in its shares and the entire chip sector. In the government bond sector, prices were mixed in volatile trade after rallying heartily on Wednesday amid renewed expectations for a Fed rate cut in two weeks. The 10-year Treasury note was up 1/32 to yield ($TNX) 4.91 percent while the 30-year government bond shaved 3/32 to yield ($TYX) 5.34 percent. Meanwhile, Wednesday will see the release of the Fed's Beige Book report on economic conditions. Check economic calendar and forecasts. In the currency sector, the dollar gave back 0.5 percent to 123.36 yen while the euro lost 0.1 percent to 90.36 cents. Japanese bank shares came under pressure on Wednesday after rating agency Standard & Poor's said it may lower the long-term ratings on ten major Japanese banks due to growing worries over their asset quality.