MARKET PREVIEW: Techs hope for a rebound

2 min read

A turnaround in Asia and a positive futures outlook have investors hoping for a bounce on Thursday. Markets in Europe and Asia moved up, and early indicators have the Dow set to open higher.


U.S. markets are hoping for some relief, a day after the Dow Jones Industrial average lost 317.34 to close at 9,973.46, the lowest close in a year. The Nasdaq slipped 42.69, or 2.1 percent to finish at 1972.09.

Finnish mobile phone giant Nokia (NYSE: NOK) should be one to watch. The world's biggest mobile phone handset maker lowered its first-quarter sales growth expectations to about 20 percent from an earlier estimate of 25 to 35 percent, but said it expects better-than-anticipated first-quarter margins and earnings in line with expectations.

Travel reservations company Sabre Holdings Corp. (NYSE: TSG) awarded a 10-year service contract to systems consulting firm EDS Corp. (NYSE: EDS), valued at $2.2 billion, as part of a larger deal between the two companies.

Shares of Oracle (Nasdaq: ORCL) may see some action ahead of the release of the company's second-quarter results, after market close. The business software maker, which warned of a shortfall for the period earlier this month, is expected to report earnings of 10 cents a share, according to First Call.

Expect the following technology stocks to be among Thursday's most "http:="" www.zdii.com="" industry_list.asp?mode="news&doc_id=ZE507893&pic=Y"">actively traded issues: Globespan (Nasdaq: GSPN), Texas Instruments (NYSE: TXN), Verity (Nasdaq: VRTY) and Virata (Nasdaq: VRTA).

At the Bell

The Dow Jones industrial average is expected to open up 64 points. The Standard & Poor's 500 futures index moved up 7.60 to 1188.40, above fair value, at 7:21 a.m. EST in 24-hour electronic trading.

The Inter@ctive Week @Net Index dropped 6 to 188.24.


The major Asian markets gained ground. The Nikkei 225 rose 309.24, or 2.61 percent, to 12,152.83, while Hong Kong's Hang Seng added 173.33, or 1.3 percent, to 13,504.17. Singapore's Straights Times inched up 1.66 to 1793.84.


European markets traded higher as well. London's FTSE 100 gained 29 to 5,654.90, the CAC 40 in Paris moved up 42.90 to 5,158.40, and the DAX in Frankfurt rose 62.13 to 5,856.25 at 7:16 a.m. EST.

ZDII staff and Reuters contributed to this roundup.