Techs were revving their engines before the bell Friday, and should cruise into the weekend on the drive of Thursday's economic news and strong earnings. Asia and Europe surged overnight, and the Dow is set to open higher.
Intel Corp. (Nasdaq: INTC) said that despite strong demand and tight supplies, it will deliver in the fourth quarter. Other good news rushing the morning markets after release last night include America Online Inc.'s (NYSE: AOL) two-for-one stock split, the seventh in seven years.
Techs will also be digesting Federal Reserve Chairman Alan Greenspan's Thursday speech. He warned that the Fed must be alert for signs of inflation in a speech to the Business Council, but avoided addressing the central bank's inclination towards interest rates.
Friday's IPOs are also scorching, with Akamai (Nasdaq: AKAM) priced at $26 a share. Allied Riser (Nasdaq: ARCC) also priced at $18, and Chartered Semiconductor (Nasdaq: CHRT) priced at $20.
Expect the following technology stocks to be among Friday's most actively traded issues: AOL, Autobytel.com, eToys, Infoseek and Xoom.com.
A double dose of positive economic news inspired investors Thursday as the Dow Jones industrial average stormed up 228 points to 10,622.53 while the tech-laden Nasdaq composite rose 73 points to finish at 2,875.44.
At the Bell
The Dow Jones industrial average may open 92 points lower. The Standard & Poor's 500 index for June futures contracts was up 11.8 points to 1362 at 7:41 a.m. EST in 24-hour electronic trading.
The Inter@ctive Week @Net Index was resting at 323.15.
Trading in Asia accelerated. The Nikkei 225 rose 3.03 percent to 17,942, Singapore's Strait Times index gained 2.19 percent to 2,047 and Hong Kong's Hang Seng gained 3.90 percent to 13,257.
European markets were also moving up. London's FTSE 100 rose 1.54 percent to 6,244. The CAC 40 in Paris gained 1.95 percent to 4,841 and the Xetra DAX in Frankfurt was up 0.77 percent to 5,521 at 7:22 a.m. EST.
Reuters contributed to this report.