MARKET PREVIEW: Investors eye recount

2 min read

Wall Street may be on hold Wednesday as investors keep a close eye on the recount which will decide the 43rd president. Asian markets were mixed, Europe was up, and the Dow is set to open higher.


Investors, bleary eyed from staying up late as Florida swung from Gore to Bush to undecided, have some antitrust news to divert them; Wednesday's Wall Street Journal Onlien edition reported regulators are demanding that America Online (NYSE: AOL) and Time Warner (NYSE: TWX) allow at least one competitor access to AOL's high speed cable lines in order to approve their merger.

Internet auction site eBay (Nasdaq: EBAY) will also get some attention after announcing it had to lay off 32 employees, or about 15 percent of the staff, at its Butterfield division.

Expect the following technology stocks to be among Wednesday's most actively traded issues: AOL Latin America, Mediacom, Oplink and S1.

Stocks moved sideways Tuesday as investors awaited the outcome of closest presidential election in 40 years. The Dow Jones industrial average fell 25 points to 10,952.18 while the Nasdaq trimmed 0.41 points to finish at 3,415.80.

At the Bell

The Dow Jones industrial average may open about 45 points higher. The Standard & Poor's 500 index for June futures contracts was up 6 to 1450 at 7:40 a.m. EST in 24-hour electronic trading.

The Inter@ctive Week @Net Index was up 1 to 459.


Trading in Asia was mixed. The Nikkei 225 rose 0.35 percent to 15,399.64, Singapore's Strait Times index shed 0.24 percent to 2,016.52 and Hong Kong's Hang Seng was down 1.05 percent to 15,654.13.


European markets were rising. London's FTSE 100 rose 0.9 percent to 6,472.80. The CAC 40 in Paris gained 0.27 percent to 6403.61 and the DAX in Frankfurt was up 0.11 percent to 7,083.86 at 7:35 a.m. EST.

Reuters contributed to this report.