Stocks face tech troubles

[notiCIas]

Stocks face tech troubles

Lowered outlook from Japanese chipmakers, Amazon point stock futures lower in early trading.

April 27, 2005: 6:11 AM EDT

NEW YORK (CNN/Money) - More warnings from the tech sector could give stocks trouble early Wednesday.

U.S. stock futures were down in early trading indicating a lower opening for stocks after lowered guidance from Japanese chipmakers NEC and Fujitsu as well as a disappointing outlook from online retailer Amazon.com (Research).

On Tuesday, disappointing results from some European and Asian chipmakers helped lead U.S. stocks lower.


Oil prices were lower after in early trading ahead of the weekly report on U.S. fuel inventories due later in the morning.

The June light crude contract lost 29 cents to $53.91 a barrel in electronic trading, while the June contract for Brent crude fell 16 cents to $53.98.

Major markets in Asia closed lower Wednesday. Major European markets were also lower in early trading.

Treasury prices were lower, lifting the yield on the 10-year note to 4.28 percent from the 4.26 percent level late Tuesday.