TF North America Daybook - Monday, Oct. 29, 2007 |
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Mon, 29 Oct 2007 11:46
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NEW YORK (Thomson Financial) - TF North America Daybook Monday, Oct. 29, 2007MAJOR U.S. EQUITY INDEXES:Wall Street is on track Monday for gains in a week where expectations are high the U.S. Federal Reserve will cut interest rates to boost the economy, with Merrill Lynch & Co. in focus amid reports its Chief Executive Stan O'Neal is set to step down.Rising commodity prices are likely to drive gains in oil, metals and mining sectors.According to spread bettors IG Index, the Dow Jones Industrial Average is expected to open up 49 points at 13,856. Separately, S&P 500 futures rose 3.70 points to 1,546.30 while Nasdaq 100 futures climbed 14 points to 2,221.25.Wall Street closed an erratic week with strong gains on Friday as strong earnings from Microsoft Corp. and an optimistic outlook from Countrywide Financial Corp. outweighed investor concerns about the economy. The Dow Jones industrial average rose 134.78, or 0.99%, to close at 13,806.70, while the Nasdaq composite index advanced 53.33, or 1.94%, to 2,804.19. and the S&P 500 gained 20.88, or 1.38%, to 1,535.28. Meanwhile, the yield on the 10-year Treasury note rose to 4.39% and December crude futures rose $1.40 to settle at $91.86 a barrel on the New York Mercantile Exchange.ECONOMIC DATA:- None expected.EARNINGS HIGHLIGHTS:Company Symbol Quarter TF Estimate TimeKellogg Co. K 3Q $ .73 BMOLouisiana-Pacific LPX 3Q (.16) BMONorthwest Airlines NWA 3Q .76 BMOVerizon Commun VZ 3Q .62 BMOFigures in parentheses denote losses.AFTER-HOURS ACTION:
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TF North America Daybook - Tuesday, Oct. 23, 2007 