Goldman Sachs

downgrade on computer-making bigwig

International Business Machines

(IBM) - Get Report

this morning fanned fears that record lows for the Euro are going to damage corporate earnings and decked the

Nasdaq Composite Index, which had been down, but had recently nosed up 5.5 to 3983.9. The Nasdaq had already been looking a little soggy after breaking out below the 4000 support level last week. IBM was off 2%.

The other majors weren't faring quite as poorly. Weakness in



and IBM were dragging on the

Dow Jones Industrial Average. But this weakness was countered by strength in

J.P. Morgan

(JPM) - Get Report



(WMT) - Get Report

, up 2% and 3.2%, respectivley. The Dow was up 18.8 to 11238.8.

Hewlett-Packard announced it is in talks to buy the consulting unit of global accountancy and consulting firm


in a deal worth $17 to $18 billion in cash and stock. Hewlett said the deal would be mildly dilutive to its 2001 cash earnings per share.


TheStreet Recommends

wrote more about the companies in a

separate piece .

Elsewhere in the market, the

S&P 500 was up 5.22 to 1499.72 and the

Russell 2000

was 0.24 higher to 535.94.

TheStreet.com Internet Sector

index was up 7.45 to 816.36.

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Sector Watch

The retail sector was one of the biggest and only movers to the upside, with the

S&P Retail

index 19 higher to 869. Retail stocks were powering higher on strength in Wal-Mart,

Home Depot

(HD) - Get Report



(COST) - Get Report

, which were 3.2%, 2% and 1% higher, respectively.

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The 10-year Treasury note was lately down 7/32 at 99 28/32, and yielding 5.768%.

On Friday, a drop in the price of oil from the 10-year high helped to break a three-session losing streak in the bond market. Treasury bond prices rose slightly, retracing some of the losses incurred earlier in the week as oil prices rose.

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