Wall St. back into the ring
Investors may be poised to keep rally going as stocks gain overseas
March 26, 2001: 6:19 a.m. ET
NEW YORK (CNNfn) - Wall Street's "gladiators" are set to re-enter the arena Monday, hoping to keep alive a modest rally that began at the end of last week and is spreading to markets around the world.
Early indications point to a thumbs up for the major market indexes. After taking fair value into consideration, Nasdaq-100 futures rose nearly 3 percent, indicating a strong gain for the Nasdaq market. Standard & Poor's gained about 1.5 percent, a hint that the S&P 500 and Dow Jones industrial average will open higher.
After getting walloped for most of the past two months, U.S. stocks showed nascent signs of recovery late last week. The Dow Jones industrial average, which entered bear market territory Thursday before a dramatic late-day comeback, roared back Friday on strength in financial services issues seen as getting a boost from lower interest rates.
Asian markets sent a positive signal to the rest of the world Monday, with Tokyo's Nikkei index finishing up nearly 5 percent and Hong Kong's Hang Seng index almost 3 percent higher. European markets also surged in early trading.
The Dow Jones industrial average starts at 9,504.78 after Friday's 1.2 percent gain. The Nasdaq composite index is also on an upswing, at 1,928.68, following a 1.6 percent advance. The S&P 500 starts the session at 1,139.83, having risen 2 percent to end the week.
Monday's stock optimism appeared to be a detriment to Treasury prices in early trading, boosting yields. The 10-year note yield rose to 4.82 percent from 4.79 percent, while the 30-year bond yield edged up to 5.31 percent from 5.30 percent.
The dollar rose against the yen and slipped versus the euro. Brent oil futures rose 35 cents to $25.73 a barrel.?BR>
Pharmaceutical maker Johnson & Johnson (JNJ: Research, Estimates) is reported to be in talks to acquire Alza, which develops methods of delivering medicines to the body. The Financial Times said the deal would be worth $8 billion while the Wall Street Journal estimated a $12 billion price tag. 잻ow component J&J rose 41 cents Friday to $88.21, while Alza (AZA: Research, Estimates) gained $2.55 to $30.05.
Investors may be poised to keep rally going as stocks gain overseas
March 26, 2001: 6:19 a.m. ET
NEW YORK (CNNfn) - Wall Street's "gladiators" are set to re-enter the arena Monday, hoping to keep alive a modest rally that began at the end of last week and is spreading to markets around the world.
Early indications point to a thumbs up for the major market indexes. After taking fair value into consideration, Nasdaq-100 futures rose nearly 3 percent, indicating a strong gain for the Nasdaq market. Standard & Poor's gained about 1.5 percent, a hint that the S&P 500 and Dow Jones industrial average will open higher.
After getting walloped for most of the past two months, U.S. stocks showed nascent signs of recovery late last week. The Dow Jones industrial average, which entered bear market territory Thursday before a dramatic late-day comeback, roared back Friday on strength in financial services issues seen as getting a boost from lower interest rates.
Asian markets sent a positive signal to the rest of the world Monday, with Tokyo's Nikkei index finishing up nearly 5 percent and Hong Kong's Hang Seng index almost 3 percent higher. European markets also surged in early trading.
The Dow Jones industrial average starts at 9,504.78 after Friday's 1.2 percent gain. The Nasdaq composite index is also on an upswing, at 1,928.68, following a 1.6 percent advance. The S&P 500 starts the session at 1,139.83, having risen 2 percent to end the week.
Monday's stock optimism appeared to be a detriment to Treasury prices in early trading, boosting yields. The 10-year note yield rose to 4.82 percent from 4.79 percent, while the 30-year bond yield edged up to 5.31 percent from 5.30 percent.
The dollar rose against the yen and slipped versus the euro. Brent oil futures rose 35 cents to $25.73 a barrel.?BR>
Pharmaceutical maker Johnson & Johnson (JNJ: Research, Estimates) is reported to be in talks to acquire Alza, which develops methods of delivering medicines to the body. The Financial Times said the deal would be worth $8 billion while the Wall Street Journal estimated a $12 billion price tag. 잻ow component J&J rose 41 cents Friday to $88.21, while Alza (AZA: Research, Estimates) gained $2.55 to $30.05.
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