Consumer Confidence Is Key
Stocks are looking at a positive open Friday as traders await the closely
watched Michigan consumer sentiment numbers which are due out at 10:00 AM ET.
Analysts expect a reading of 90.5 on the report, and if it is
weaker-than-expected, it could help determine whether the Fed will make an
inter-meeting rate cut.
In other economic news, personal spending rose 0.3% and personal income rose
0.4%. Both figures marched analyst expectations.
The Nasdaq futures are up 15 points, and the Dow futures are up 33 points.
The S&Ps look to open up 3.4 points while the yield on the 10-year
Treasury is 4.97%.
Friday Movers
After trading as low as 22 3/8, BEA Systems
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PowerRating) managed to close down
slightly at 26 3/16 on Thursday. BEAS is trading higher Friday and is currently
crossing the tape at 27 1/2 in pre-market activity.
Dell
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PowerRating) was one of Thursday’s few tech winners, rising 1/2 to 26
15/16. Dell is currently trading up to 27 in pre-market activity.
WorldCom
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PowerRating) is looking at a positive open following an upgrade from
Thomas Weisel. WorldCom closed Thursday at 19 1/16 and is currently trading up
to 19 1/4 in pre-market activity.
JDS Uniphase
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PowerRating) had a rough day Thursday, closing down 2.42 to
17.50. The former optical bellwether is currently trading flat at 17.50 in pre
market activity.