Tech-laden index, at 2-year high, puts 2004 winning streak on the line in Wednesday session.
January 7, 2004: 5:40 AM EST
NEW YORK (CNN/Money) - The Nasdaq composite index, up in all three sessions so far this year, gets a test of its recent surge when U.S. stock trading begins Wednesday.
At 5:35 a.m. ET, futures pointed to a lower start for the Nasdaq as well as for the broader market.
It has been a happy extended holiday for the tech-heavy Nasdaq, which is up more than 175 points since Nov. 18. The index has gained every day so far in 2004, including Tuesday's modest 0.5 percent advance, and stands at its best level in two years.
The Dow Jones industrial average took a 0.1 percent step back Tuesday after a solid gain in the prior session.
Asian-Pacific stocks ended mixed Wednesday, with Tokyo's Nikkei index down 0.5 percent. European markets were little changed. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Apple Computer (AAPL: Research, Estimates) was unchanged. At the annual MacWorld show in San Francisco, the computer unveiled a smaller, less expensive version of its popular iPod music player.
Treasury prices fell in early trading, sending the 10-year note yield up to 4.30 percent from 4.27 percent late Tuesday. The dollar was little changed against the euro and yen.
Brent oil futures pulled back 11 cents to $30.71 a barrel in London, where gold slid sharply to about $420.75.
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