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

To: stockman_scott who wrote (47385)	2/5/2002 7:51:34 AM
From: Dealer	Respond to of 65232

M A R K E T .. S N A P S H O T -- Stocks look to post tiny gains By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:42 AM ET Feb 5, 2002 NEW YORK (CBS.MW) - The stock averages are looking to turn some of the vicious losses incurred in the previous trading day into gains on Tuesday, though the upside shaping up so far is modest. March S&P 500 futures rose 1.70 points, or 0.1 percent, and were trading 2.20 points above fair value, according to HL Camp & Co. And Nasdaq futures erased 2.00 points, or 0.2 percent, but were trading 1.90 points above fair value. Some of Monday's big losers continued to bleed: Irish specialty pharmaceutical company Elan Corp. (ELN) slid 14 percent in the pre-open after taking a 50.1-percent drubbing on Monday while Tyco International (TYC) traded around $29.30 in Europe, off 60 cents, following a 16.1-percent beating Monday. In the government bond arena, prices traded mixed in early action but failed to stray far from the unchanged mark. The fixed-income market is also awaiting the refunding auctions, with $16 billion in 2-year notes set for sale on Tuesday and $13 billion in 10-year notes on tap Wednesday. The 10-year Treasury note was up 1/32 to yield ($TNX) 4.90 percent while the 30-year government bond erased 1/32 to yield ($TYX) 5.35 percent. On the economic front, Tuesday will see the second-tier releases of December factory orders -- expected to climb 1.2 percent -- and the January non-manufacturing index from the Institute to Supply Management. Check economic calendar and forecasts. In the currency sector, the dollar gained 0.7 percent to 133.21 yen while the euro shed 0.1 percent to 86.84 cents. --------------------------------------------------------------------------------