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  Jeff Bailey   4/19/02,  9:22:07 AM
Merrill Lynch is bullish on MSFT at the open and is playing some bets that the stock will benefit from rotation of cash toward the stock away from other large cap names, also citing a recovering economy. If that's the case, then we should see Copper prices surge if Freeport McMoran (FCX) is saying that copper production is down. If the economy is going to ramp up in the next quarter, then industrial metal usage should rise. If demand rised for a product where supply is down, we should see a powerful move in copper is my thinking.

One thing we'll be doing is monitoring copper futures. This morning, the May contract (hg02k) is higher by 0.61% at $0.7315/lb.

 
 
  Jeff Bailey   4/19/02,  9:17:07 AM
Stock futures have done an about face this morning after multiple brokerage upgrades and positive comments regarding some earnings reports from last night.

S&P futures currently trade above fair value at +$4.90 to 1,127.90 and have been building gains into the opening bell.

NASDAQ futures are also higher by 24 points at 1,411.50.

 
 

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