Quarterly reports from Dow components and a possible GM warning could send markets lower.
November 16, 2004: 6:04 AM EST
NEW YORK (CNN/Money) - Stocks looked to open lower Tuesday as investors went back into earnings watch, with three Dow components set to post results and a report that executives at a fourth, General Motors, are warning about a long-range earnings target.
U.S. stockfutures were lower Tuesday ahead of pre-market earnings reports due from Wal-Mart Stores, the world's largest retailer, and Home Depot, the largest home improvement retailer. Computer and peripherals maker Hewlett Packard is due to report results after the bell.
Stocks could get a lift from oil prices, which continued to decline in early trading. U.S. crude futures fell 31 cents to $46.56 a barrel in electronic trading. That's off the lowest close in two months Monday. Brent oil futures dropped 13 cents to $42.91 a barrel in London.
Bond prices were little changed, with the 10-year note yield at 4.18 percent. The dollar was lower against the euro and higher against the yen. Gold was higher, but was just below the 16-year high hit Friday.
Major Asian markets closed lower Tuesday, while major European markets were down in early trading.
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