CNET también está disponible en español.

Ir a español

Don't show this again

Tech Industry

MARKET PREVIEW: Can techs fend off profit-takers?

    Techs should be rolling out of bed for November on the upside Monday, as Friday's rally has little to block its progress. Asia was up, Europe was mixed, and the refurbished Dow is set to open slightly lower.

    U.S.

    The 30-stock Dow industrial average starts the day with a fresh outlook, as newcomers Microsoft Corp. (Nasdaq: MSFT), Intel (Nasdaq: INTC), and SBC Communications (NYSE: SBC) are factored in.

    The Nasdaq closed at a new high Friday, as investors shrugged off inflation fears after a few better-than-expected economic reports. As the unstable month of October ends and the holiday season approaches, profit takers may appear.

    After the market opens Monday, the market will digest another economic tidbit; September construction spending figures will be released by the government. The index is expected to show a 0.2 percent drop in spending after a 0.4 percent decline in August. The National Association of Purchasing Management will also release its index of manufacturing activity for October, which is expected to have fallen to 55.9 from 57.8 in September. Friday's October employment data which is likely to cause the biggest stir this week.

    Though earnings season has slowed down, quarterly reports from Qualcomm (Nasdaq: QCOM), Cabletron Systems (NYSE: CS), NextLink (Nasdaq: NXLK) and GoTo.com (Nasdaq: GOTO) will drift in Monday.

    Expect the following technology stocks to be among Monday's most actively traded issues: AT&T, Citrix Systems, Ebay and Visio.

    Technology stocks erupted Friday, pushing the Nasdaq composite up 91 points to 2,966.52, a new record close. The Dow Jones industrial average charged up 109 points to finish an exceptionally strong week at 10,731.76.

    At the Bell

    The Dow Jones industrial average may open about 13 points lower. The Standard & Poor's 500 index for June futures contracts was down 1.7 points to 1374 at 7:31 a.m. EST in 24-hour electronic trading.

    The Inter@ctive Week @Net Index was up 12 to 356.14.

    Asia

    Trading in Asia was on an upswing. The Nikkei 225 rose 0.06 percent to 17,997, Singapore's Strait Times index gained 1.26 percent to 2,073 and Hong Kong's Hang Seng was up 0.49 percent to 13,322.

    Europe

    European markets were also moving up, with the exception of London's FTSE 100, which slipped 0.32 percent to 6,252. The CAC 40 in Paris gained 2.95 percent to 4,889 and the Xetra DAX in Frankfurt was up 0.01 percent to 5,526 at 6:54 a.m. EST.

    Reuters contributed to this report.