Green October?
An hour ahead of two economic reports and a day ahead of the Federal Reserve
meeting, stocks are set to gain back some of last week’s loss at the open
Monday.
The National Association of Purchasing Managers Index for September and August’s construction spending numbers will be released Monday
at 10:00 AM ET. Estimates look for a 50.3% NAPM and a 0.4% increase in construction spending.
The Nasdaq futures are up 42 points, and the Dow futures are up 32 points.
The S&Ps look to open up 7.60 points, while the yield on the 10-year
Treasury is 5.81%.
Monday Movers
Caterpillar
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PowerRating) warned of a third-quarter earnings shortfall after the
bell on Friday and that has the equipment maker sliding at the open. After
closing Friday at 33 3/4, Caterpillar is trading down to 30 on Instinet.
Sun Microsystems
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PowerRating) and Oracle
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PowerRating) are both edging higher
after announcing a strategic initiative to help developers. Sun closed Friday at
116 3/4 and is trading up to 118 1/4 while Oracle is trading up to 79 5/8 after
a close of 78 3/4.
FuelCell Energy
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PowerRating) is trading higher following an announced alliance
with Enron
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PowerRating). FuelCell closed Friday at 96 7/32 and is trading up to 103 1/2
in pre-market activity.
Friday Follow-up
Intel
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PowerRating) is showing signs of life after falling on Friday 2 15/16 to
41 9/16, its lowest level since January 6, 2000. Intel is currently trading up
to 42 5/8 in pre-market activity.
Following Friday’s meltdown of 27 3/4 points to 25 3/4, Apple Computer
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PowerRating)
is trading up slightly to 26 1/2Â in pre-market activity.