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well that seems to be the problem, no money going in
maybe they lost most of it and are putting new 401k money in non-stock areas
I should find out where the $ is flowing into
what ya buying fuzzy?
morning navy
[I'm loving this]
NEW YORK (CBS.MW) -- The tech sector was poised to open on a lower note Thursday following a downgrade of chip giant Intel and a lackluster tone following a late-day sprint on Wednesday.
On the data front, meanwhile, weekly initials claims fell by a larger-than-expected 32,000 to 383,000, a 13-month low. But the report gave the futures markets only a short-lived boost.
Intel (NasdaqNM: INTC - news) fell in the pre-open following a lowered outlook from Merrill Lynch. The brokerage downgraded the stock to a "neutral" rating from a "strong buy" on belief it's "no bargain" at current levels.
Merrill said it believes Intel's stock price has already priced in recovery expectations for the chip industry. Late Wednesday, the Semiconductor Industry Association released an upbeat mid-year forecast, projecting that semiconductor sales would increase by 3.1 percent in 2002, 23.2 percent in 2003 and 20.9 percent in 2004. The SIA feels the significant decline in excess inventories will enable the semis to plow ahead with the recovery process.
Intel will offer investors a midquarter update after the close Thursday while National Semiconductor (NYSE: NSM - news) will detail how its quarter went during the trading day.
Merrill Lynch also sliced its view on the following chip companies: Linear Technology (NasdaqNM: LLTC - news) , Semtech (NasdaqNM: SMTC - news) , Texas Instruments (NYSE: TXN - news) and Triquint (NasdaqNM: TQNT - news) because of high valuations.
Oracle (NasdaqNM: ORCL - news) traded lower in the pre-open following an 11-percent rally in the final hour of trading Wednesday after the software firm backed its fourth-quarter earnings target. But UBS Warburg cautioned that Oracle would at least meet consensus expectations in the quarter through aggressive cost controls and significant share buybacks -- and not because of improved sales.
Checking the pulse of the stock futures markets, the June S&P 500 contract inched up 1.40 points, or 0.2 percent, and was trading around 2.00 points ahead of fair value, according to HL Camp & Co. numbers.
While the futures markets signaled a positive open for the broader market, Nasdaq futures fell 7.50 points, or 0.6 percent, and were trading about 10.20 points under fair value.
Mixed trade for bonds; dollar forges ahead
Treasurys traded a smidgen lower in early action following the day's dose of optimistic economic news.
The 10-year Treasury note fell 7/32 to yield (CBOE: ^TNX - news) 5.08 percent while the 30-year government bond stumbled 6/32 to yield (CBOE: ^TYX - news) 5.675 percent.
In the currency sector, the dollar maintained its fortitude for a third session after the Bank of Japan intervened for the fourth time in less than three weeks on Tuesday.
In the meantime, the Bank of England and the European Central Bank both left short-term rates unchanged at their respective policy-setting meetings. See the related story.
The greenback climbed 0.8 percent to 124.89 yen while the euro declined 0.1 percent to 93.79 cents.
hahaha!
you are the devilish one Grizz
warming everyone up this morning:
8:58AM: S&P futures vs fair value: +0.5. Nasdaq futures vs fair value: -11.5. Cash market appears ready for a mixed start. Look for the Nasdaq to trail the action as the Merrill Lynch downgrade of INTC and several other chip stocks, combined with CIBC's downgrades of SYMC, AWE, NXTP, PCS and NXTL, and Bear Stearns cutting 2002 and 2003 EPS estimates on NOK, have weighed on sentiment. Separately, blue chips likely to be underpinned by the reassuring earnings guidance coming from the retail sector and Goldman Sachs's positive view on several integrated oil cos.
with the flight that long, I thought maybe if I learned a foreign language on the plane it might help pass the time
and I love poetry
just a teeny monster
nuh uh
this will wake you up
is this boring enough?
g'morning
the general consensus is summer will be ugly
do we go contrarian?
NEW YORK (CBS.MW) -- Broad market buyers were set to step up to the plate Wednesday, though tech investors appeared cautious after delivering the Nasdaq a win Tuesday following two days of losses.
June S&P 500 futures advanced 2.20 points, or 0.2 percent, and were trading around 2.90 points above fair value, according to HL Camp & Co. But Nasdaq futures shed 1.50 points, or 0.1 percent, and were trading around 0.60 point under fair value.
Government bonds eased back a bit in early action, with the 10-year Treasury note declining 3/32 to yield (CBOE: ^TNX - news) 5.045 percent while the 30-year government bond gained 1/4 to yield (CBOE: ^TYX - news) 5.645 percent.
Economic news will be scant on Wednesday, with only the ISM services index for May on the agenda.
Checking the pulse of the currency sector, the dollar maintained some strength against the yen following the Bank of Japan's intervention efforts on Tuesday.
The greenback edged up 0.1 percent to 124.33 yen while the euro declined 0.2 percent to 93.73 cents.
thanks Grizz
I need to view every indicator I can - the IW is a good one
warming you up with:
8:44AM: S&P futures vs fair value: +1.0. Nasdaq futures vs fair value: -1.0. Additional minor weakness noted in pre-market indicators despite a number of upgrades (KLAC, BEAS, GPS) and positive comments (INTC added to Morgan Stanley Fresh Money List).
looking pretty green to me so far
thank you
life is good
but but but I HATE flying
in the movie True Lies they kidnap Arnold and use some kind of injection gun in his neck that puts him to sleep
I want one!
;) xxray [almost but not quite triple x rated]
hope you're short this morning
8:45AM: The futures are pointing to another weak open. A sizable warning and a generally unfavorable conference call from EMS giant Flextronics (FLEX 12.32) appears to be spreading to other equities. FLEX is down 15%in the pre-mkt....Gap Inc (GPS 14.27) will be worth watching as it was added to Morgan Stanley's U.S. Model Portfolio....Nothing on the economic calendar today....Overnight, the dollar fell to a 16-month low vs the euro on weak corporate news in the US and increasing concerns over the transparency of accounting....
Current Indications: S&P futures vs fair value: --2.1. Nasdaq futures vs fair value: --9.5. Nas 100 PMI -8.57.
doesn't look like a bounce this morning
it's ugly out there
Tuesday June 4, 8:09 - No relief in sight for U.S. stocks
NEW YORK (CBS.MW) -- The market isn't offering any hiding places to those looking for shelter. Stocks, in fact, look prepared to move lower for yet another session Tuesday -- a day after a nasty tech pounding took the Nasdaq to an 8-month low.
June S&P 500 futures subtracted 5.90 points, or 0.6 percent, and were trading around 7.90 point under fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, traded down 15.00 points, or 1.3 percent, and were 10.50 points below fair value.
While equities are set to struggle, the fixed-income market is poised to capitalize on those losses and benefit from its safe-haven status.
The 10-year Treasury note climbed 6/32 to yield (CBOE: ^TNX - news) 4.975 percent while the 30-year government bond gained 6/32 to yield (CBOE: ^TYX - news) 5.585 percent.
No economic data are scheduled for release on Tuesday. It'll be slim pickings until Friday's vital employment report for May, which should produce the first back-to-back monthly increase in nonfarm payrolls in over a year.
In the currency sector, the dollar erased 0.2 percent to 123.36 yen while the euro added on 0.3 percent to 94.33 cents.
is this working?
<img src=http://www.btinternet.com/~western.clipart/page4/cowbargn.gif>
I will have to do that
I think I will be northeast in Suwanee [sp?]
it sounds so southern!
the only negative on Switzerland is the plane fight [grrrrrr], but I will be flying with a plane load of doctors and dentists [medicate me!]
NEW YORK (CBS.MW) -- U.S. stocks are poised for flimsy gains at the open Monday while investors ponder news of the resignation of Tyco International's CEO and await a marquee economic release.
Yyco (NYSE: TYC - news) saw its shares take a 7-percent pre-open dive.
Dennis Kozlowski resigned as chairman and chief executive of the company for personal reasons. John Fort, who served as Tyco's chairman and CEO from 1982 to 1992, will assume executive responsibilities until a replacement is found. Separately, the New York Times reported that Kozlowski is under criminal investigation on suspicion of having avoided New York State sales taxes. The article cited lawyers involved in the inquiry.
June S&P 500 futures advanced 2.30 points, or 0.2 percent, and were trading about 1.90 points ahead of fair value, according to HL Camp & Co. numbers. And Nasdaq futures climbed 5.50 points, or 0.5 percent, and were trading 5.20 points above fair value.
Government bonds relinquished some ground out of the chute, with losses spread pretty evenly across the maturity spectrum.
The 10-year Treasury note subtracted 6/32 to yield (CBOE: ^TNX - news) 5.07 percent while the 30-year government bond stumbled 7/32 to yield (CBOE: ^TYX - news) 5.635 percent.
A key gauge of the manufacturing sector will be out Monday -- one of the month's most market-moving economic indicators: the Institute of Supply Management's May index.
Also in the lineup is the release of April construction spending.
In the foreign exchange sphere, the dollar traded close to the unchanged mark after a turbulent week characterized by severe losses and another intervention from the Bank of Japan.
In recent dealings, the greenback edged up 0.1 percent to 124.14 yen while the euro declined 0.3 percent to 93.08 cents.
carry over from friday? looking like green open
8:20AM: A firmer bias is still intact with the S&P 500 futures 1.5 points above fair value, while the Nasdaq 100 futures are trading 6.5 points above fair value. Some positives comments on the chip sector from Bear Stearns-- now time to buy based on lower valuations and firming fundamentals. However, software may be pressured in the wake of the UBS Warburg estimate cuts and the Lehman downgrade
laughing here
morning handy :D
morning ergo
I would be happy to
fair value is the difference between the prior day's close of the underlying stocks in the S&P 500 and the prior day's close of the S&P 500 futures contract
summer sched seems to be pointing at an Atlanta in July
couple of week-ends in Chicago
then Switzerland in Sept
the North woods in Oct
intermingled with lots of boating
and a visit from my father
I am so sorry to hear you were handymanless yesterday
NEW YORK (CBS.MW) -- U.S. stocks looked to rebound Friday, though the upside in the futures markets was not deep in the absence of a catalyst to trigger buying interest.
June S&P 500 futures advanced 5.40 points, or 0.5 percent, and were trading around 6.40 points above fair value, according to HL Camp & Co. numbers. And Nasdaq futures put on 8.50 points, or 0.7 percent, and were trading 9.00 points ahead of fair value.
Government bonds fumbled after two days of gains ahead of the morning's dose of data.
Friday's lineup includes the Chicago Purchasing Mangers Index for May, the revision to first-quarter productivity, April factory orders, and the final reading of the University of Michigan's consumer sentiment index.
The 10-year Treasury note shed 2/32 to yield (CBOE: ^TNX - news) 5.03 percent while the 30-year government bond eased 2/32 to yield (CBOE: ^TYX - news) 5.60 percent.
In the currency sector, the dollar regained its composure against the yen but continued to waver versus the euro. The yen's weakness derived from a third Bank of Japan intervention in two weeks to buy dollars.
In recent dealings, the greenback rallied 0.6 percent to 123.97 yen while the euro edged up 0.1 percent to 93.78 cents.
8:40AM: The futures are pointing to a modestly higher open, building on yesterday's late move higher....There's a possibility for increased volatility today as it's the end of the month as firms juggle their holdings....Q1 Productivity was revised slightly to 8.4% from the original 8.6% estimate; this revision was too small to be of any consequence and should not have any market impact.....The yen had its biggest decline against the dollar in two weeks as Japanese govt sold in order to stem a rally that would exporters' earnings....
Also on the economic front, Revised Univ of Mich Consumer Sentiment due at 9:45 ET and Factory Orders and Chicago PMI at 10 ET....Current indications: S&P 500 futures are +3.70, or 4.7 pts above fair value. Nasdaq 100 is +6.50, or 7.5 pts above fair value. Nas 100 PMI +6.85.
I need a tress trim too, missed my last appointment
speaking of grass, mine is growing at an astonishing rate - it thrived in the cool spring
any handymen around today? ;)
NEW YORK (CBS.MW) -- A weak dollar and nagging worries about companies' accounting tactics continued to put a damper on sentiment, with stocks poised to open lower on Thursday.
The major averages have fallen for three consecutive trading days and the Dow and Nasdaq are both hovering at three-week lows.
June S&P 500 futures dropped 4.30 points, or 0.4 percent, and were trading around 4.40 points below fair value, according to HL Camp & Co. Nasdaq futures, meanwhile, traded down 10.00 points, or 0.8 percent, and were trading 11.90 points under fair value.
Among shares changing hands before the official opening bell, Dow stock Philip Morris (NYSE: MO - news) put on 25 cents to $56.25. The tobacco kingpin announced the sale of its Miller Brewing unit to South African Breweries PLC in a $5.6 billion deal that'll create the world's second largest brewer.
More gains for Treasurys; dollar trips
Government bonds logged more gains in the aftermath of a highly successful 2-year note auction Wednesday. The $27 billion in notes sold was a record amount.
The 10-year Treasury note added 2/32 to yield (CBOE: ^TNX - news) 5.055 percent while the 30-year government bond gained 2/32 to yield (CBOE: ^TYX - news) 5.625 percent.
On the data side, only weekly initial claims will be released.
Friday will see a batch of economic reports: the Chicago Purchasing Mangers index for May, the revision to first-quarter productivity, April factory orders, and the final reading of the University of Michigan's consumer sentiment index.
Cornering foreign exchange action, the dollar continued to languish at lower levels, falling to a six-month nadir of 123.64 against the yen, down 0.5 percent. The euro, meanwhile, advanced to a 15-month high of 93.65 cents, up 0.2 percent from Wednesday's levels.
8:35AM: Jobless claims fell 12K to 410K in the week of May 25, which was basically in line with the consensus estimate of 411K... Accordingly, the market's reaction to the headline print has been negligible... More worrisome, perhaps, is the fact that continuing claims jumped 49K in the week of May 18 and now stand at a 19-yr high... Presently, the S&P futures are 4.80 points below fair value while the Nasdaq 100 Pre-Market Indicator is down 6 points.
very humid, my hair is extra curly today - it's my humidity gauge
who is mowing in your neighbor? the LLM? he does get around
;)
just dropping in to say morning
foggy here, quiet and beautiful
is that damn lawn mower fixed or does the LMM coming back to do a 'tune-up'?
NEW YORK (CBS.MW) -- A sullen tone is emerging in the tech sector for a third straight session Wednesday, with chip issues taking their lumps in pre-open dealings as a midquarter update from equipment maker Novellus Systems did not prove reassuring to investors.
And an SEC probe into oil service firm Halliburton (NYSE: HAL - news) could dent investor confidence in the broader market.
The futures markets pointed to losses in the tech sector at the start of trading, though the downside wasn't too deep.
June S&P 500 futures declined 1.60 points, or 0.1 percent, but were trading around 0.30 point above fair value, according to the figures provided by HL Camp & Co. Nasdaq futures, meanwhile, traded down 11.50 points, or 0.9 percent, and stood about 5.80 points under fair value.
Government bonds managed modest gains ahead of a massive $27 billion 2-year note auction, scheduled for Wednesday afternoon.
The 10-year Treasury note added 5/32 to yield (CBOE: ^TNX - news) 5.11 percent while the 30-year government bond gained 3/32 to yield (CBOE: ^TYX - news) 5.66 percent.
No economic data are set for release on Wednesday. No fresh news will be out until Friday, when a slew of second-tier releases -- including the Chicago Purchasing Managers Index -- will be unfurled.
In the currency sector, the dollar erased 0.2 percent to 124.30 yen while the euro added 0.4 percent to 93.20 cents.
morning grizz
with some advertisers, it is pure propaganga [isn't propaganda an odd word once you look at it?]
a warm-up for you and the AIMers
8:55AM: The pre-market bias has weakened slightly in recent trade with the S&P 500 futures 1.4 points below fair value while the Nasdaq 100 futures are 9 points below fair value. There have been some positive pre-open developments with homebuilders (TOL, HOV) reporting better than expected earnings with Merrill Lynch upgrading Starbucks (SBUX) based on strong retail sales momentum. However, negative news has been more prevalent. Topping the list are: Halliburton (HAL)--notification from the SEC that it has initiated a preliminary investigation of the co's accounting; El Paso (EP)-- lowered guidance for FY02 and FY03, cutting jobs, plans to sell some assets; JDS Uniphase (JDSU)-- downgraded by CSFB, cited weak demand; Novellus (NVLS)-- topped estimate last night by $0.01 but this proved disappointing to the market and refused to provided guidance for Q3 (AMAT, KLAC also lower).
I have so much to do this week, don't know where I'll fit it all in
and this summer
but I will, hopefully, have fun trying
hehehe
I can't be in it, I have stepped foot in your house
but
I am having fun with it
would you care to share this week's schedule? [sly smile]