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

To: T L Comiskey who wrote (48817)	3/20/2002 9:11:50 AM
From: stockman_scott	Respond to of 65232

US Stocks Seen Opening Weaker On Profit-Taking Wednesday By Victoria Marcinkowski Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--U.S. stocks are seen opening lower Wednesday on what traders see as a bit of profit-taking following the Fed's highly anticipated decision Tuesday to move to a neutral stance on the economy. The market could drift in and out of negative territory in the coming days, traders say, as investors look for any news on how business is going for companies in the current first quarter. "As we enter the pre-warning season, investors are on the lookout for any company that will come out and talk about the first quarter, the result of which is key to how strong a recovery we're in," said Peter Coolidge, senior equity trader at Brean Murray. Dow futures recently traded down 57 points, the Nasdaq futures fell 16.50 points, and the Standard & Poor's futures were off by 5.80 points. The Dow Jones Indicative Average, which indicates actual trades of the industrial average's 30 components overseas, recently fell 29.82 to 10604.23. Homebuilding giant Lennar Corp. (LEN) on Wednesday said its fiscal first-quarter net income was up 40%, better than expected, as low interest rates and consumer demand for new homes helped to generate a 13% increase in revenue. In economic news, the Commerce Department is scheduled to release February housing starts at 8:30 a.m. EST. Overnight in Asia, Hong Kong's blue-chip Hang Seng Index ended down 186.23 points, or 1.66%, to 11036.60. Japan's Nikkei 225 index plunged 266.04 points, or 2.26%, to 11526.78 on profit-taking ahead of a holiday Thursday. In Europe, the FTSE 100 has lost 0.7%, Paris' CAC-40 fallen 0.6% and Frankfurt's Xetra Dax trended lower by 1.2%. The following companies are slated to report their quarterly earnings Wednesday. Mean: Bear Stearns (BSC) 1Q .95 General Mills (GIS) 3Q .28 Lehman Brothers (LEH) 1Q .95 NDCHealth Corp. (NDC) 3Q .34 Prima Energy Corp. (PENG) 4Q .18 Vans Inc. (VANS) 3Q .03 Worthington Industries (WOR) 3Q .12 -Victoria Marcinkowski, Dow Jones Newswires; 201-938-2408; victoria.marcinkowski@dowjones.com (END) DOW JONES NEWS 03-20-02