TF North America Daybook - Wednesday, Oct. 31, 2007 |
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Wed, 31 Oct 2007 11:29
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NEW YORK (Thomson Financial) - TF North America Daybook Wednesday, Oct. 31, 2007MAJOR U.S. EQUITY INDEXES:Wall Street is looking at a higher open Wednesday on expectations the Federal Reserve will cut interest rates to boost a flagging economy, with investors also mulling restated results from Dell Inc. and earnings from Alcatel-Lucent that came in better than expected.The market also is awaiting a string of economic reports, including a first estimate on how much the economy grew in the third quarter.According to spread bettors IG Index, the Dow Jones Industrial Average is expected to open up 31 points at 13,823. Separately, S&P 500 futures climbed 3.80 points to 1,539.80 while Nasdaq 100 futures were up 7.25 points at 2,225.Wall Street pulled back Tuesday as investors, uneasy about a drop in consumer confidence, traded cautiously ahead of the Federal Reserve's impending decision on interest rates. The Dow Jones Industrial Average fell 77.79 points, or 0.56%, to close at 13,792.47, while the Nasdaq composite index dropped 0.73, or 0.03%, to 2,816.71 and the S&P 500 index lost 9.96, or 0.65%, to 1,531.02. Meanwhile, the yield on the 10-year Treasury note was unchanged at 4.38% and crude oil prices fell $3.15 to settle at $90.13 a barrel.ECONOMIC DATA:- 3Q employment cost index, 8:30 a.m. ET, 0.9% estimate- 3Q gross domestic product, 8:30 a.m. ET, 3.0% estimate- October Chicago PMI, 9:45 a.m. ET, 53.0 estimate- September construction spending, 10 a.m. ET, -0.5% estimate- Two-day meeting of Federal Open Market Committee ends, rate announcement 2 p.m. ETEARNINGS HIGHLIGHTS:Company Symbol Quarter TF Estimate TimeAllied Waste AW 3Q $ .22 AMCClorox CLX 1Q .61 BMO GlobalSantaFe GSF 3Q 1.89 AMCIAC/InterActive IACI 3Q .35 NTSMetLife MET 3Q 1.39 AMC Newmont Mining NEM 3Q .25 NTSPrudential Financial PRU 3Q 1.73 AMCRockwell Collins COL 4Q .89 7:30 a.m. ETTransocean RIG 3Q 2.06 BMOWeyerhaeuser WY 3Q .49 BMOFigures in parentheses denote losses.AFTER-HOURS ACTION:
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TF North America Daybook - Thursday, Oct. 25, 2007 