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MARKET PREVIEW: Investors edgy ahead of Fed meeting

Investors will be on edge Monday as they await the meeting of the Federal Reserve, which is expected to bring relief on interest rates. Asian markets were down, Europe was mixed, and the Dow is set to open slightly higher.


It's now expected that Tuesday's Federal Rerve meeting will result in a half percentage point cut in interest rates, though some investors are holding out hope for a bigger, three-quarter point cut. This week's move will follow two consecutive half-percentage point cuts this year.

Meanwhile, investors will have their eye out for earnings from Solectron (NYSE: SLR) and be on watch for more profit warnings.

Expect the following technology stocks to be among Monday's most actively traded issues: Agilent, Appiant Technologies and Wink Communications.

Investors weren't comforted by a hodge-podge of fresh economic reports Friday as the Dow Jones industrial average and Nasdaq composite both closed out a miserable week with heavy losses.The Dow plummeted 208 points to finish at 9,823.41, while the Nasdaq peeled off another 50 points to close at 1,890.99.

At the Bell

The Dow Jones industrial average may open 35 points lower. The Standard & Poor's 500 index for June futures contracts was up 4.2 points to 1166 at 7:25 a.m. EST in 24-hour electronic trading.

The Inter@ctive Week @Net Index fell 6 to 179.65.


Trading in Asia was down. The Nikkei 225 fell 42.01 to 12,190.97, Singapore's Strait Times index fell 49.95 to 1,722.15 and Hong Kong's Hang Seng dropped 64.35 to 1,3457.69.


European markets were mixed. London's FTSE 100 rose 5.80 to 5,568.60, the CAC 40 in Paris lost 30.42 to 5,074.35 and the Xetra DAX in Frankfurt was off 28.28 to 5,706.21 at 7:20 a.m. EST.

Reuters contributed to this report.