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: stockman_scott who wrote (47330)	2/1/2002 9:04:26 AM
From: Dealer	Respond to of 65232

M A R K E T .. S N A P S H O T -- A F T E R H O U R S -- Futures sour on jobs data By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:52 AM ET Feb 1, 2002 NEW YORK (CBS.MW) -- The stock averages are poised for a lower open on Friday after two days of nifty gains as the futures markets soured on a larger-than-expected loss in the job market in January. Non-farm payrolls, in fact, fell by 89,000 in January while economists had expected a drop of 27,000. Hiring in the retail sector offset weakness for factory and construction jobs. But good news came on the closely tracked unemployment rate: it fell to 5.6 percent vs. the expected 5.9 percent level. Still ahead on the economic front: the Institute of Supply Management Index (formerly NAPM), which is expected to post a 49.7 percent reading in January vs. 48.2 percent in December, and December construction spending, seen squeaking up 0.2 percent. Check economic calendar and forecasts. March S&P 500 futures fell 2.30 points, or 0.2 percent, and were trading 2.50 point below fair value, according to HL Camp & Co. And Nasdaq futures lost 3.50 points, or 0.2 percent, and were about 3.30 points below fair value. Dow stock Walt Disney (DIS) traded at $22 in Europe, up 94 cents. . After the close Thursday, the entertainment conglomerate made a fourth-quarter profit from operations that surpassed the Wall Street consensus estimate amid lower revenue from the year-ago period in a dismal advertising climate. In the software space, Adobe (ADBE) reaffirmed late Thursday that it expects first-quarter earnings of between 20 to 22 cents a share on revenue of between $265 million and $280 million, better than the 20 cents a share and $266.9 million in revenue expected by Wall Street analysts. Separately, Adobe announced early Friday its plan to snare Canada's Accelio in a $72 million stock deal. In analyst actions, insurer Aflac (AFL) was cut by Merrill Lynch to an intermediate-term "strong buy" from a "neutral" on belief that the top-line growth outlook does not support mid-teens earnings per share growth. Treasury focus Treasury bonds opened on a mixed note, with long issues mustering some gains while short-dated securities wavered. The 10-year Treasury note was up 2/32 to yield ($TNX) 5.035 percent while the 30-year government bond climbed 6/32 to yield ($TYX) 5.42 percent. In the currency sector, the dollar dropped 0.6 percent to 133.96 yen after rallying on Thursday while the euro inched up 0.4 percent to 86.21 cents.