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

To: Dealer who wrote (44669)	12/4/2001 7:50:47 AM
From: Dealer	Respond to of 65232

M A R K E T .. S N A P S H O T -- Stocks look to recoup lost ground By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:48 AM ET Dec 4, 2001 NEW YORK (CBS.MW) -- U.S. stocks are looking to recover some losses on Tuesday after succumbing to a broad-based selloff on Monday. December S&P 500 futures added 2.90 points, or 0.3 percent, and were trading about 2.60 points above fair value, according to HL Camp & Co. Nasdaq futures climbed 5.00 points, or 0.3 percent and the Dow Jones Indicative Index gained 36 points, or 0.4 percent, to 9,800. Meanwhile, Treasury prices retreated across the board in early action. The 10-year Treasury note was off 9/32 to yield ($TNX) 4.71 percent while the 30-year government bond lost 1/4 to yield ($TYX) 5.26 percent. This week's data machine will take a rest Tuesday as investors await for the granddaddy of all economic reports on Friday: the November jobs report, which will provide a first peek of the labor situation of the previous month. Check economic calendar and forecasts. In the currency arena, the dollar shed 0.1 percent to 123.90 yen while the euro lost 0.1 percent to 89.07 cents. Meanwhile, a second rating agency lowered the rating of the world's second-largest economy in less than a week. Moody's Investors Service cut Japan's government-backed domestic bonds to "Aa3" from "Aa2." The agency said the move was prompted by "fiscal strains" that will likely persist due to the country's ongoing economic weakness and the elusiveness of policy remedies. Just last Wednesday Standard & Poor's had lowered Japan's long-term local and foreign currency sovereign credit ratings to "AA" from an "AA+." S&P also retained its negative outlook on the debt. --------------------------------------------------------------------------------