A.I.M. Users Bulletin Board

[Foxlette]

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.