MARKET PREVIEW: Wall Street eyes Nokia, Fed

Earnings from Nokia, among other techs, should keep investors attention on Tuesday as Wall Street waits on the Fed. Asian markets were mixed while those in Europe lost ground. Early indicators have the Dow set to open lower.


Mobile phone giant Nokia's (NYSE: NOK) posted solid earnings for its fourth quarter, slipping by analyst estimates, but cut growth forecasts for the first quarter on slowing sales. Shares of the company fell in pre-session trading.

InfoSpace (Nasdaq: INSP) will also be a stock to watch, rising 16 percent in pre-market action after topping analyst estimates in its fourth quarter.

Shares of Gateway Computer (NYSE: GTW) may be on the move after the company named co-founder Ted Waitt as CEO, replacing Jeffrey Weitzen.

Fed Chairman Alan Greenspan and the rest of the central bank's policy makers begin two days of meetings today. The Fed is not expected to issue any decision on interest rates until tomorrow afternoon.

The Conference Board's will release the January report on consumer confidence at 10 a.m. EST. According to a Briefing.com survey of economists, the index is expected to drop to 125 from 128.3 in December.

Expect the following technology stocks to be among Tuesday's most "http:="" www.zdii.com="" industry_list.asp?mode="news&doc_id=ZE507376&pic=Y"" rel="">actively traded issues: Amazon.com (Nasdaq: AMZN), Expedia (Nasdaq: EXPE), Gateway (NYSE: GTW) and InfoSpace (Nasdaq: INSP).

The Nasdaq moved up Monday, closing the session up 57.04 to 2,838.34. The Dow Jones industrial average gained 42.21 to 10,702.19.

At the Bell

The Dow Jones industrial average is expected to open down 17 points. The Standard & Poor's 500 futures index shed 2.20 to 1367.80, below fair value, at 7:22 a.m. EST in 24-hour electronic trading.

The Inter@ctive Week @Net Index moved up 7 to 327.36.


The major Asian markets were mixed. The Nikkei 225 and Hong Kong's Hang Seng both lost ground, down 18.63 to 13,826.65 and 206.75 to 15,893.07, respectively. Singapore's Straights Times moved up 29.49 to 1,961.52.


European markets traded down. London's FTSE 100 slipped 5.50 to 6,311.50, the CAC 40 in Paris lost 23.61 to 5,864.298.73 to 5,896.89 and in Frankfurt the DAX shed 38.31 to 6,712.65 at 7:16 a.m. EST.

Reuters contributed to this report.