Intel's outlook, economic reports and Bush news conference among the factors markets to consider.
April 14, 2004: 6:12 AM EDT
NEW YORK (CNN/Money) - Intel's outlook, some economic reports and the reaction to President Bush's news confidence will be absorbed by investors when U.S. stock trading gets underway Wednesday.
Hours before the open, futures pointed to a lower start for the tech-influenced Nasdaq, but a flat start for the overall market.
Intel (INTC: Research, Estimates), the world's No. 1 chip maker, reported higher first-quarter earnings and sales Wednesday. But the figures were slightly below forecasts, and the second-quarter sales outlook was also a little less than analysts expected. However, Intel hinted that corporate information technology demand is showing signs of a pickup.
Among U.S. stocks trading in Europe, Intel shares were 2 percent lower.
Before trading begins Wednesday, the government will issue its consumer price index for March. Economists surveyed by Briefing.com expect a 0.3 percent increase, the same as the February boost; excluding food and energy, prices are seen having risen 0.2 percent.
Also due before the opening bell is the February trade balance, seen slipping to $42.5 billion from $43.1 billion in January.
President Bush defended his Iraq policy in a one-hour news conference, saying he's committed to meeting the June 30 deadline for turning sovereignty to Iraqis and will send more troops to the region if military leaders deem it necessary.
For details of Tuesday's trouncing, click above
The Dow Jones industrial average is coming off Tuesday's 1.3 percent drubbing on concern that interest rates will rise sometime soon. The Nasdaq composite index fell by 1.7 percent (see chart for details).
Asian-Pacific stocks ended lower Wednesday, reflecting the weakness in the U.S. market; Tokyo's Nikkei index was down 0.2 percent. European markets retreated in early trading on the Intel news. (Check the latest on world markets)
Treasury prices rose in early trading, sending the 10-year note yield down to 4.33 percent from 4.35 percent late Tuesday. The dollar gained against the yen and euro, adding to Tuesday's advance on interest rate hike expectations.
Brent oil futures slipped 29 cents to $32.86 a barrel in London, where gold fell in early trading.
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