Indexes remain up as week comes to a close; 'quadruple-witching' looms.
June 20, 2003: 5:28 AM EDT
By Mark M. Meinero, CNN/Money Staff Writer
NEW YORK (CNN/Money) - Investors will determine if the major U.S. stock indexes will hold their gains for the week Friday, the last trading session of spring.
At 5:30 a.m. ET, futures pointed to a higher start for the major indexes.
Despite sharp losses Thursday on weakness in General Electric and financial services issues, the major indexes remain ahead for the week going into Friday's session. Some of the selling could be attributable to unwinding of positions ahead of a "quadruple-witching," Friday's expiration of stock index futures, stock index options, equity options and single-stock futures.
The Dow Jones industrial average is up by more than 62 points despite a 1.2 percent slide Thursday. The Nasdaq composite index is ahead by a little over 22 points after tumbling 1.7 percent. (see chart for details)
Asian-Pacific stocks ended mostly lower Friday, but Tokyo's Nikkei was up 0.1 percent for a six-month closing high. European markets pulled back in early trading. (Check the latest on world markets)
Among U.S. stocks trading in Europe, AT&T (T: Research, Estimates) was unchanged. The telecom service provider has extended a contract with 22,000 Communications Workers of America for two years, with the union employees getting a 5.75 percent wage hike over that period.
Treasury prices rose in early trading, sending the 10-year note yield down to 3.31 percent from 3.34 percent late Thursday. The dollar strengthened against the euro but was little changed against the yen.
Brent oil futures advanced 19 cents to $26.48 a barrel in London, where gold slipped in early trading.
Among the stocks to watch Friday is housewares retailer Bed Bath & Beyond (BBBY: Research, Estimates). It announced Thursday that it is buying the Christmas Tree Shops chain, which sells holiday and discount merchandise in New England, for about $200 million. Bed Bath & Beyond fell $1.86 to $40.57 Thursday.
O Clubeinvest.com informa que nenhuma da informação
aqui facultada deverá ser entendida como conselho ou recomendação
de qualquer tipo de transacção ou investimento.
