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Technology Stocks : Avant (AVNT) -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (3277)	6/10/1998 7:29:00 AM
From: tonto	Respond to of 3441

off topic: Wednesday June 10, 6:55 am Eastern Time Asia, Greenspan put U.S. stocks in London on edge LONDON, June 10 (Reuters) - U.S. stocks in London inched lower on Wednesday amid mounting concern over the crisis in Asia and jitters ahead of the testimony of Federal Reserve Chairman Alan Greenspan at 1500 GMT. By 1016 GMT June S&P futures traded at 1114.40 on Globex, some five points below their estimated fair value, which indicates a drop of around 30 to 40 points at the Dow open. ''With the fallout we've had overnight in Asia and Greenspan talking this afternoon, the market's going to be nervy,'' said one trader. ''Most people are going to stay firmly on the sidelines,'' he added. ''Wall Street should be quiet for the first hour and a half until we have some idea of what Greenspan has in store for us,'' a trader said. Most analysts expect Greenspan's testimony to shed little new light on the central bank's policy intentions, with the backdrop of Asian gloom likely to keep optimism over the domestic picture in check. The Hang Seng index plunged nearly five percent to finish below the key 8,000 mark, its lowest level in over three years as fears over yen weakness and a possible devaluation of the Chinese yuan sent investors scrabbling for the exit. U.S. benchmark 30-year Treasury bonds were up 15/32 at 105-09 as investors sought a safe haven. Among individual stocks, Western Digital Corp (WDC - news) was bid at $12-1/2, down $3 from its New York close. The disk drive maker said after the close of trade that it expected to post a larger-than-expected loss in its fiscal fourth quarter. But no trades had been executed in U.S. stocks in London. ''The fact we've had more earnings warnings overnight could make things tough for semiconductors in New York later,... Techies will have a great short day, an interesting day in store for sure. Keep an eye on Jakarta. It continues to move closer to a buy zone.