NEW YORK, April 7 (Reuters) - U.S. stocks are seen opening higher Wednesday, with technology shares leading the way as the Dow makes another stab at 10,000.
First quarter earnings reports get going with Yahoo! Inc. (Nasdaq:YHOO - news) and Alcoa Inc. (NYSE:AA - news) due to turn in their reports.
''We're off to the races again. Everything's going to hinge on what Yahoo's going to say,'' said Arthur Hogan, chief market analyst at Jefferies & Co.
Yahoo! is to report after the market close.
Anticipation of strong results from Yahoo! could push the Nasdaq composite index to its third consecutive record close, analysts said.
Analysts and Web surfers alike will be tuning in to Yahoo!'s 1700 EDT/2100 GMT press conference on Broadcast.com (Nasdaq:BCST - news).
Alcoa, the world's largest aluminum producer, this morning becomes the first of the Dow 30 companies to report earnings. But analysts say investors are probably more focused on the technology sector than on the industrial giant.
Alcoa closed at 41-1/16 on Tuesday.
Elsewhere in the Web sector, a big Internet music deal could take center stage.
Bertelsmann AG (quote from Yahoo! UK & Ireland: BTGGg.F) unit BMG and Seagram Co. Ltd. (Toronto:VO.TO - news) unit Universal, two of the world's top music companies, are set to participate on Wednesday in what is being heralded as a ''major Internet announcement in the media business,'' sources said. |
