Nasdaq composite enters session at another 2-1/2 year high as investors cheer the outlook.
January 13, 2004: 5:52 AM EST
NEW YORK (CNN/Money) - Eyes will be on tech stocks again Tuesday as the Nasdaq composite index stands at another 2-1/2 year high in advance of some key earnings reports.
At 5:40 a.m. ET, futures pointed to a flat start for the major indexes.
The Nasdaq has risen all but one of the year's seven trading sessions, and is already up 5.4 percent for the year to date. Among the sparks behind Monday's 1.2 percent gain was a forecast of a 33 percent increase in semiconductor sales, which is expected to the first significant increase in chipmaking equipment sales since 1999.
For details of Monday's gains, click above
Tech investors are waiting for Wednesday afternoon, when three leaders -- Intel (INTC: Research, Estimates), Apple Computer (AAPL: Research, Estimates) and Yahoo! (YHOO: Research, Estimates) -- post their quarterly figures.
The Dow Jones industrial average hasn't fared too badly; it gained a quarter of a percent in Monday trading and added to its modest advance for the year (see chart for details).
Most Asian-Pacific markets finished lower, with Tokyo's Nikkei index down 1.1 percent to start its holiday shortened trading week. European stocks gained ground in early trading. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Motorola (MOT: Research, Estimates) was up more that 6 percent. Sources say the wireless equipment and other companies later Tuesday will announce $2 billion in supply deals with Chinese telecom companies.
Treasury prices dipped in early trading, sending the 10-year note yield up to 4.09 percent from 4.08 percent late Monday. The dollar slipped against the yen, but was little changed versus the euro.
Brent oil futures continued their climb as the eastern U.S. prepared for another severe cold snap, climbing 20 cents to $31.40 a barrel in London. Gold pulled back in early trading.
Among the companies scheduled to report results before the opening bell is Accenture (ACN: Research, Estimates), the management and technology consulting firm and regional banks BB&T (BBT: Research, Estimates) and State Street. (STT: Research, Estimates)
Several Federal Reserve officials will be making public comments Tuesday. Chairman Alan Greenspan will be lecturing the Bundesbank in Berlin about globalization, while Gov. Mark Olson is slated to give an economic update in Charlotte, N.C.
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