U.S. stocks look to recover when trading begins
Enviado: 18/7/2003 14:33CBS MarketWatch
U.S. stocks look to recover when trading begins
Friday July 18, 9:12 am ET
By Julie Rannazzisi
NEW YORK (CBS.MW) -- U.S. stocks looked to recoup some of the previous day's losses on Friday, with Microsoft's quarterly report triggering timid pre-open purchases.
Microsoft (NasdaqNMMSFTNews) , a component of the Dow industrials, Nasdaq and S&P 500, reported after the close Thursday a fiscal fourth-quarter profit that fell short of analysts' expectations while its revenue exceeded forecasts.
In the biotech sector, Idec Pharmaceuticals (NasdaqNMIDPHNews) registered an in-line second-quarter profit late Thursday.
In the futures pits, the August S&P 500 contract gained 2.70 points, or 0.3 percent, while the Nasdaq 100 contract advanced 6.00 points, or 0.5 percent.
Friday will see the release of the University of Michigan's July consumer sentiment index.
Next week's economic landscape will be barren, with few reports of consequence. Among the releases to look for: June leading economic indicators, weekly initial claims, June new and existing home sales and June durable goods orders.
Government bond issues found no relief, extending recent losses as benchmark yields hovered at 10-week highs.
The 10-year Treasury note was down 13/32 to yield (CBOE^TNXNews) 3.975 percent while the 30-year government bond eased 21/32 to yield (CBOE^TYXNews) 4.935 percent.
In the currency sector, the U.S. dollar gained more traction against its major trading partners, climbing 0.4 percent to 119.17 yen as the euro declined 0.3 percent to $1.1188.
U.S. stocks look to recover when trading begins
Friday July 18, 9:12 am ET
By Julie Rannazzisi
NEW YORK (CBS.MW) -- U.S. stocks looked to recoup some of the previous day's losses on Friday, with Microsoft's quarterly report triggering timid pre-open purchases.
Microsoft (NasdaqNMMSFTNews) , a component of the Dow industrials, Nasdaq and S&P 500, reported after the close Thursday a fiscal fourth-quarter profit that fell short of analysts' expectations while its revenue exceeded forecasts.
In the biotech sector, Idec Pharmaceuticals (NasdaqNMIDPHNews) registered an in-line second-quarter profit late Thursday.
In the futures pits, the August S&P 500 contract gained 2.70 points, or 0.3 percent, while the Nasdaq 100 contract advanced 6.00 points, or 0.5 percent.
Friday will see the release of the University of Michigan's July consumer sentiment index.
Next week's economic landscape will be barren, with few reports of consequence. Among the releases to look for: June leading economic indicators, weekly initial claims, June new and existing home sales and June durable goods orders.
Government bond issues found no relief, extending recent losses as benchmark yields hovered at 10-week highs.
The 10-year Treasury note was down 13/32 to yield (CBOE^TNXNews) 3.975 percent while the 30-year government bond eased 21/32 to yield (CBOE^TYXNews) 4.935 percent.
In the currency sector, the U.S. dollar gained more traction against its major trading partners, climbing 0.4 percent to 119.17 yen as the euro declined 0.3 percent to $1.1188.