Intel, oil lift stock futures

[notiCIas]

Intel, oil lift stock futures

Markets look to higher open after chipmaker raises outlook and crude continues retreat.


March 11, 2005: 6:19 AM EST

NEW YORK (CNN/Money) - A stronger outlook from Intel and lower oil prices were poised to lift U.S. markets Friday.

U.S. stock futures were up in early trading Friday, indicating a higher opening for stocks, following Intel's mid-quarter update after the market close Thursday.

The leading chipmaker raised the lower end of its revenue guidance as well as its estimated profit margin in comments to investors. Shares of Intel (Research) gained more than 2 percent in European trading early Friday.

   
In early Friday trading oil, which reached near record highs Wednesday, continued its retreat in price seen in Thursday trading.

The April light crude contract lost 51 cents to $53.03 a barrel in electronic trading, while the April contract for Brent crude fell 51 cents to $52.15.

Major markets in Asia closed higher Friday on the strong outlook from Intel. Major European markets also were higher in early trading.

The yield on the 10-year note rose to 4.48 percent from 4.46 percent late Thursday. The dollar gained ground on both the euro and the yen.

The report on the U.S. trade deficit in January is due before the open, with economists surveyed by Briefing.com forecasting that imports outstripped exports by $56.8 billion, up from the $56.4 billion deficit seen in December.

But Federal Reserve Chairman Alan Greenspan said in a speech Thursday evening in New York that the federal budget deficit is a bigger concern for the economy than either the trade gap or the nation's low savings rate.