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Strategies & Market Trends : the Women of SI -- Ignore unavailable to you. Want to Upgrade?

To: OldAIMGuy who wrote (732)	4/21/1999 9:02:00 AM
From: Rainy_Day_Woman	Read Replies (1) \| Respond to of 1691

U.S. stocks seen opening steady By Jennifer Shaw NEW YORK, April 21 (Reuters) - U.S. blue chips were expected to open steady, in contrast with recent volatile sessions. Microsoft will be a focus in the technology sector after reporting better-than-expected earnings but cautioning about the future. ''Microsoft cautioned, so we'll have a tepid response,'' said Larry Wachtel, market analyst at Prudential Securities. Earnings news will dominate the day, with Compaq Computer Corp. (CPQ - news), Colgate-Palmolive Co. (CL - news) and Coca-Cola Co. (KO - news) among companies reporting this morning. Interest rate concerns could return on the back of higher oil prices. Microsoft said it earned $1.92 billion, or 35 cents per diluted share, in its fiscal third quarter, beating analysts' estimates of 32 cents a share. But the company urged caution going forward, due in part to an expected slowdown in corporate spending because of concern over Y2K issues. ''Microsoft is a friend of Wall Street; they let you know how things look,'' said Arthur Hogan, chief market analyst at Jefferies & Co. ''That being said, since the dawn of time Microsoft has beaten their earnings estimates and been cautionary on the future,'' he added. Hogan expects trading to be ''cautious,'' with the trend toward higher oil prices -- as reflected in recent API data -- sparking some interest rate concerns. ''The price of oil is one of the things we look at in terms of inflationary pressure,'' he said. ''That would be our only real worry.'' However, Hogan said Wall Street was encouraged by the market's ability to stage a come-back on Tuesday.