Stock futures gain as investors cheer Intel, Yahoo!, await other results.
October 13, 2004: 5:34 AM EDT
NEW YORK (CNN/Money) - Outlooks from Intel and Yahoo! appeared to excite tech investors ahead of Wednesday's U.S. market open, with futures pointing to a gain.
Early Wednesday, Nasdaq futures were solidly higher and S&P futures were up slightly. moderately.
Among U.S. stocks trading in Europe,Intel (Research) rose more than 3 percent. The No. 1 chipmaker reported third-quarter earnings above Wall Street expectations and gave slightly-below-forecast fourth-quarter guidance that wasn't quite as dismal as some followers feared.
Yahoo! (Research) came in with better-than-expected profit for the third quarter and upped its revenue forecast for the rest of the year. Its shares gained more than 3 percent.
Among the results due Wednesday is Apple Computer (Research), which reports after the close. The computer and music player maker is expected to post earnings of 18 cents a share, up from 8 cents a year earlier, according to analysts surveyed by First Call.
Oil prices were slightly higher in overnight trading. U.S. crude futures rose 7 cents to $52.58 a barrel in electronic trading, while Brent oil futures gained 25 cents to $49.85 a barrel in London.
For details of Tuesday's action, click above.
The Dow Jones industrial average managed a ho-hum 5-point loss Tuesday, while the Nasdaq composite index slipped 3 points as earnings concerns and the oil situation continued to hold back investors (see chart for details).
Asian-Pacific stocks ended mostly lower, although the loss for Tokyo's Nikkei index was just 0.1 percent. European markets were higher in early trading. (Check the latest on world markets)
Treasury prices fell in early trading, sending the 10-year note yield up to 4.11 percent from 4.10 percent late Tuesday. The dollar was little changed against the yen and lower versus the euro. Gold rose.
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