Investors likely to look ahead toward key economic, earnings reports at week's end.
November 12, 2003: 5:34 AM EST
NEW YORK (CNN/Money) - Bulls seeking to end U.S. stock markets' three-session droop will be biding their time Wednesday as they await a flood of major economic and earnings reports toward the end of the week.
At 5:30 a.m. ET, futures pointed to a generally lower start for the major indexes.
Investors will be looking ahead to several key economic reports. Among them are jobless claims and the trade balance figures due Thursday, and the producer price, retail sales and Michigan consumer sentiment reports all on tap Friday.
As for earnings, Applied Materials (AMAT: Research, Estimates) will be watched throughout the day as the chip equipment maker prepares to release its results after the bell. Analysts surveyed by First Call expect to see a decline in fourth-quarter profit to 5 cents a share from 9 cents a year earlier.
Among U.S. stocks trading in Europe, Applied Materials was slightly lower in early Wednesday trading.
On Thursday, world No. 1 retailer Wal-Mart Stores (WMT: Research, Estimates) posts results before the market open, and PC maker Dell Computer (DELL: Research, Estimates) comes in after the close.
The Dow Jones industrial average fell 0.2 percent Tuesday and has slipped more than 119 points since last Thursday. The Nasdaq composite index, down 0.6 percent Tuesday, has fallen more than 45 points over the past three sessions.
Asian-Pacific stocks ended mixed Wednesday, with Tokyo's Nikkei index up 0.2 percent. European markets were generally lower in early trading. (Check the latest on world markets)
Treasury prices fell, sending the 10-year note yield up to 4.45 percent from 4.44 percent late Friday; the debt market was closed Tuesday to commemorate Veterans Day. The dollar gained against the yen, but weakened versus the euro.
Brent oil futures advanced 9 cents to $29.07 a barrel in London. Gold was slightly higher.
Among other stocks to watch Wednesday is Microsoft (MSFT: Research, Estimates). The No. 1 maker of software for home computers was scheduled to defend itself at hearing on European Commission charges that it abused the dominance of Windows operating system. The company faces sanctions when the commission rules on the matter, most likely in the spring.
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