Mads~
absolutely, although it was a grand marnier eve for me
WR, the sass, did get in contact :-)
thanks woman
today looks like a better day, we might be in recovery mode it if sticks
the warm up:
NEW YORK, March 31 (Reuters) - U.S. stocks looked set to push slightly higher in early trading on Friday as technology investors regain solid footing after dragging top tech names into correction territory this week.
But analysts noted that the Nasdaq composite may need to test its recent lows before moving steadily higher.
``Right now we're pointing to a slightly higher opening. But after yesterday's massacre in Nasdaq, one would think it's not over yet,' said Peter Cardillo, director of research at Westfalia Investments.
``The late surge yesterday was encouraging but I expect Nasdaq will want to retest the lows before a major turnaround,' he said.
Stock index futures climbed higher in early activity with the Standard & Poor's 500 futures index for June up 6.50 points to 1,510.80 while the Nasdaq futures index up 58.50 points to 4,386.00.
Friday's economic docket was heavy and traders noted that some data may help shape morning trade. Figures on U.S. personal income and consumption in February were due before the opening bell. Economists expect a 0.3 percent uptick in personal income and a 0.8 percent increase in consumption.
The Chicago Purchasing Manager's Index (PMI) for February, U.S. factory orders for February and the final University of Michigan consumer sentiment survey for March are all expected at 10 a.m. EST (1500 GMT).
On Thursday, the Nasdaq composite index (^IXIC - news) lost 186.78 points, or 4.02 percent, to 4,457.89 - dragging the gauge more than 11 percent from its recent high, marking what analysts call a correction. In the past three days, Nasdaq has lost 500 points.
The Dow Jones industrial average (^DJI - news) fell 38.47 points, or 0.35 percent, to 10,980.25, falling prey to the downswing in top tech heavyweights.
While Nasdaq has fallen 11.7 percent from its record close of 5,048 hit March 10, the Dow has rallied 10.6 percent.
The Standard & Poor's 500 stock index (^SPX - news) declined 20.60 points Thursday, or 1.37 percent, to 1,487.92.
The 30-year U.S. Treasury bond ended up 1-1/2 points, pushing the yield down to 5.87 percent from Wednesday's close of 5.97 percent.
In corporate news, earnings pre-announcements hit Wall Street late Thursday. Chemicals company Union Carbide (NYSE:UK - news), which is being acquired by Dow Chemical (NYSE:DOW - news), said it expects first-quarter earnings to beat current analyst estimates.
Union Carbide shares rose 2-5/8 to 57-11/16 while Dow Chemical stock gained 7-1/4 to 116-1/2.
TRW Inc. (NYSE:TRW - news), which makes products for the auto parts and defense systems industries, said it expected to earn $1.20 to $1.25 a share before special items in the first quarter, which could be slightly below analysts' expectations.
Analysts polled by First Call/Thomson Financial expected the company to earn between $1.24 and $1.27 a share for the quarter. TRW stock closed Thursday up 1 at 62-15/16.
Among technology stocks, Peapod Inc.'s (NasdaqNM:PPOD - news) independent auditors said recurring losses from the online grocer's operations have drained its available cash, raising concern about whether the company could stay in business.
Peapod closed at 3-1/4, near a year low of 2-9/16. |
