New trading week to start with earnings report from home improvement retailer Lowe's.
February 23, 2004: 5:45 AM EST
NEW YORK (CNN/Money) - The travails of the home improvement retailers will be among the issues investors face as a new trading week begins Monday.
At 5:40 a.m. ET, futures pointed to a higher open for the major indexes.
The No. 2 home improvement merchant, Lowe's (LOW: Research, Estimates), reports fiscal fourth-quarter results before the start of trading. Analysts surveyed by First Call expect to see earnings of 49 cents a share, up from 40 cents a share. The report will be closely watched for indications on how well Lowe's doing compared with its bigger rival, Dow component Home Depot, which reports its results early Tuesday.
The Dow Jones industrial average begins the week at 10,619.03, having dipped 0.1 percent last week. The Nasdaq composite index is at 2,037.93, after dropping about three-quarters of a percent last week (see chart for details of Friday's session).
Japan's Nikkei index ended Monday with a 1.4 percent gain, while other Asian-Pacific markets were flat or lower. European stocks rose in early trading. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Citigroup was unchanged. The nation's No. 1 financial services company announced Monday that it is buying South Korea's Koram Bank for $2.73 billion.
Treasury prices were little changed, with the 10-year note yield at 4.09 percent. The dollar weakened against the yen and euro.
Brent oil futures lost 4 cents to $30.65 a barrel in London. Gold slipped, testing the $400 an ounce level.
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