U.S. stocks set for mixed action at the open
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U.S. stocks set for mixed action at the open
CBS MarketWatch
U.S. stocks set for mixed action at the open
Friday July 11, 9:08 am ET
By Julie Rannazzisi
NEW YORK (CBS.MW) -- U.S. stocks were poised for a mixed open Friday as investors pondered a drop in core wholesale prices and a slightly wider trade gap.
The June producer price index climbed 0.5 percent overall but fell 0.1 percent at the core, which excludes the often-volatile food and energy components. Economists had expected a 0.3 percent rise in the overall PPI and a 0.1 percent increase in the core rate.
The U.S. trade deficit, meanwhile, widened to $41.8 billion in May, coming in a shade higher compared with expectations for a $41.2 billion gap.
September S&P 500 futures gained 1.70 points, or 0.2 percent, while Nasdaq 100 futures advanced 3.00 points, or 0.2 percent.
In earnings news, Dow component general Electric (NYSEGENews) checked in with a second-quarter profit that was in line vs. analysts' expectations. GE narrowed its 2003 profit outlook to $1.55 to $1.70 a share, which compares to Wall Street's projection for full-year earnings of $1.60 a share.
GE told investors that the year is "turning out as planned."
In other news, Juniper Networks (NasdaqNMJNPRNews) announced late Thursday a second-quarter profit that surpassed expectations. Going forward, the networker said it expected to post a third-quarter profit above analysts' current estimates.
Government bonds headed lower across the maturity spectrum, with longer-term maturities bearing the brunt of the selling pressure.
The 10-year Treasury note was off 10/32 to yield (CBOE^TNXNews) 3.69 percent while the 30-year government bond eased 9/32 to yield (CBOE^TYXNews) 4.715 percent.
In the currency sector, the U.S. dollar was mostly higher against its major trading partners, climbing 0.1 percent to 117.76 yen while the euro declined 0.8 percent to $1.1287.
U.S. stocks set for mixed action at the open
Friday July 11, 9:08 am ET
By Julie Rannazzisi
NEW YORK (CBS.MW) -- U.S. stocks were poised for a mixed open Friday as investors pondered a drop in core wholesale prices and a slightly wider trade gap.
The June producer price index climbed 0.5 percent overall but fell 0.1 percent at the core, which excludes the often-volatile food and energy components. Economists had expected a 0.3 percent rise in the overall PPI and a 0.1 percent increase in the core rate.
The U.S. trade deficit, meanwhile, widened to $41.8 billion in May, coming in a shade higher compared with expectations for a $41.2 billion gap.
September S&P 500 futures gained 1.70 points, or 0.2 percent, while Nasdaq 100 futures advanced 3.00 points, or 0.2 percent.
In earnings news, Dow component general Electric (NYSEGENews) checked in with a second-quarter profit that was in line vs. analysts' expectations. GE narrowed its 2003 profit outlook to $1.55 to $1.70 a share, which compares to Wall Street's projection for full-year earnings of $1.60 a share.
GE told investors that the year is "turning out as planned."
In other news, Juniper Networks (NasdaqNMJNPRNews) announced late Thursday a second-quarter profit that surpassed expectations. Going forward, the networker said it expected to post a third-quarter profit above analysts' current estimates.
Government bonds headed lower across the maturity spectrum, with longer-term maturities bearing the brunt of the selling pressure.
The 10-year Treasury note was off 10/32 to yield (CBOE^TNXNews) 3.69 percent while the 30-year government bond eased 9/32 to yield (CBOE^TYXNews) 4.715 percent.
In the currency sector, the U.S. dollar was mostly higher against its major trading partners, climbing 0.1 percent to 117.76 yen while the euro declined 0.8 percent to $1.1287.
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