Another positive Reuters article, Dateline London
JohnG
LONDON, June 12 (Reuters) - U.S. stocks looked set for a firm opening on Monday, though trade was
quiet in Europe at the start of a busy week for economic data and with seveal centres including France
and Germany closed for a public holiday.
Dealers said digital wireless company Qualcomm Inc. (QCOM .O) could lead tech stocks higher at the
outset after reassuring news on its position in China.
The September Nasdaq future traded up 22.0 points at 3,836.0 by 1015 GMT, while the future on the
broadly based S&P 500 gained 4.4 points to 1,488.9.
Qualcomm traded at $79-1/2 on Instinet, up from $79-1/16 at Friday's close after China Unicom,
China's number two telecoms provider, said it will use Qualcom's third generation CDMA system and
start testing the system next year. China Unicom said earlier this month it was scrapping plans to use
current-generation CDMA technology, opting instead to stick with its European-standard GSM network.
But Unicom said it would use Qualcomm's CDMA, or code division multiple access, for
later-generation systems.
Elsewhere the focus was on a batch of economic reports this week, kicking off with retail sales on
Tuesday followed by consumer prices and industrial productivity later in the week. |
