re greenspan talking today, here's a blip from yahoo.com:
Wednesday October 29 6:36 AM EST
Most U.S. stocks flat in London, Intel holds gains
LONDON, Oct 29 (Reuters) - U.S. stocks, which staged one of their most stunning rebounds ever on
Tuesday, were little changed in London on Wednesday as European investors stood idle ahead of Federal
Reserve chairman Alan Greenspan's testimony later today, dealers said.
''It's all very quiet. Futures point to a bit of follow through buying at the open, but then all eyes will turn
to Greenspan,'' on London dealer said.
The Dow ended on Tuesday at 7,498.32, up 337.17 points after an initial drop of about 190 points.
''What these markets need is stability and we're hoping to get it from him,'' he added. ''People are still
jittery. With Greenspan, we're used to expecting the unexpected.''
Shares in Intel Corp (INTC), the most active in London this morning, held Tuesday's $10-1/4 gain in
New York, trading unchanged at $85 in London.
The shares were active in New York on Tuesday amid rumours, later denied by the computer chip
maker, that the company was set to increase its share buyback program.
International Business Machines Corp (IBM) shares, which jumped $9-5/16 on in New York Tuesday
after the company said its board authorised an additional $3.5 billion to buy back its shares, climbed
another $1/8 in London to $99-1/2.
Most other stocks were trading around their New York closing levels, dealers said.
In other trading, December S&P 500 futures were up 4.65 points to 929.15 on Globex at 1130 GMT.
Greenspan is set to testify before the Congress at 1500 GMT.
''He probably has rewritten what he's going to say a couple of times by now,'' the dealer said.
At 1330 GMT, data on orders for durable goods will be published. Orders are expected to have dropped
0.5 percent in September after a 2.7 percent rise in August. |
