Bye Bye Y2K
With the Nasdaq going into the final trading day of the year down 37%
year-to-date, the tech-laden average is looking positive at the open while the
Dow is leaning negative.
The Nasdaq futures are up 8.50 points, and the Dow futures are down 14
points.
The S&Ps look to open up 2.30 points while the yield on the 10-year
Treasury is 5.08%.
In economic news, the Chicago Purchasing Managers Index will be released at 10:00 AM ET, and analysts look for a reading of 41.7.
Friday Movers
JDS Uniphase
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PowerRating) pulled back 3 13/16 to 44 1/16 following a two-day
run but is poised for a positive open Friday. JDSU is currently trading up to 44
7/8 in pre-market activity.
Applied Micro Circuits
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AMCC |
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PowerRating) enjoyed two strong up days in a row and
closed Thursday up 3 19/32 to 77 3/16 on heavier-than-average volume. AMCC is
also trading higher and is currently trading up to 79 in early action.
After trading Thursday to its lowest level since July 1999, Intel
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INTC |
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PowerRating)
is looking up in early trade. Intel closed Thursday at 30 7/8 and is trading up
to 31 1/8 in pre-market action.
Juniper Networks
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JNPR |
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News |
PowerRating) was one of Thursday’s big winners, gaining 10
1/2 to 138 9/16. The Cisco competitor is set for an upside open and is trading
up to 141 1/2 in pre-market activity.