Fed chairman's testimony, Kerry wins and Dow results to occupy investors Wednesday.
February 11, 2004: 5:50 AM EST
NEW YORK (CNN/Money) - Alan Greenspan's House testimony, John Kerry's primary wins and earnings from two Dow components make this a busy Wednesday for U.S. stock investors.
At 5:45 a.m. ET, futures pointed to little change at the open for the major indexes.
Federal Reserve Chairman Greenspan appears Wednesday morning before the House Financial Services Committee to give his semi-annual assessment of monetary policy. He is likely to be probed about the state of the economic recovery, about interest rates and especially about the deficit. If, as some reports have indicated, Greenspan is looking to make a major statement opposing large deficits, this might be the forum.
Kerry's path to the Democratic presidential nomination went through the South Tuesday night as the senator from Massachusetts captured primaries in Virginia and Tennessee, in the process apparently knocking out retired Gen. Wesley Clark. He holds a big lead in delegates to the convention as the race moves on to Nevada this weekend and Wisconsin next week.
In corporate results, Coca-Cola (KO: Research, Estimates) is scheduled to post fourth-quarter earnings of 45 cents a share, up from 38 cents a share a year earlier, according to a consensus of analysts surveyed by First Call.
After the close, the results are due from the troubled Walt Disney (DIS: Research, Estimates) company, whose chairman Michael Eisner is under siege from dissidents led by the nephew of the company's namesake. The company's fiscal first-quarter earnings are seen rising to 21 cents a share from 17 cents a year earlier.
For details of Tuesday's gains, click above
On Tuesday, the parent of ABC television and the Disney theme parks company said the company's board is considering a succession plan for Eisner.
Among U.S. stocks trading in Europe, Disney was down in early trading.
The Dow Jones industrial average is coming off a 0.3 percent rise in Tuesday's session, while the Nasdaq composite index was 0.7 percent higher (see chart for details).
Asian-Pacific stocks ended mostly higher Wednesday; Japan's markets were closed for a holiday. European markets were mixed in early trading. (Check the latest on world markets)
Treasury prices held steady, with the 10-year note yield at 4.11 percent. The dollar edged up against the euro and was little changed versus the yen.
Brent oil futures slipped 23 cents to $29.70 a barrel in London, a day after OPEC announced a surprise production cut in order to prevent a steep price decline in the spring. Gold prices eased.
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