On Tap Today: NAPM Index the Highlight of a Shortened Session

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A company that traded at its highest on Friday and another that closed 4.4% up see the end of their quiet periods today. Wireless company UbiquiTel (UPCS) , a Sprint PCS (PCS) affiliate, closed up 1 1/16, or 12.7%, at 9 7/16, after reaching a high of 10. Community Health Systems (CYH) - Get Report, a health-care services provider, starts this half-day of trading at 16 3/16. Both companies last month went public to mild investor reaction, during a pessimistic market for new issues.

In the manufacturing sector, forecasts of today's market-moving

Purchasing Managers' Index

and its nine subindices suggest expansion.

Economic Data

(

Forecasts are from

Reuters

. Times are Eastern. For a longer-term economic calendar and more, see

TSC's

Economic Databank.

)

  • 10 a.m.: Purchasing Managers' Index for June. Source: National Association of Purchasing Management. Forecast: 54.0. Previous: 53.2.
  • 10 a.m.: Construction spending for May. Source: Census Bureau. Forecast: N/A. Previous: -0.6%.
  • 1 p.m.: The U.S. stock and bond markets close early ahead of the Independence Day holiday.

IPO Quiet Periods Expiring

(TheStreet.com's

Ben Holmes, who heads

TSC's

ipoPros.com subsidiary, keeps a close eye on quiet-period expirations every week. For more on quiet periods and why they matter, check out Holmes' primer on the subject. The full current quiet period expirations list is published separately.

)

Quiet Period End

Deal Name

Symbol

Lead Underwriter

7/2/00

UbiquiTel

(UPCS:Nasdaq)

Donaldson Lufkin & Jenrette

7/3/00

Community Health Systems

(CYH:NYSE)

Merrill Lynch