Anticipation of a Microsoft's response to the government's break-up plans, and a few upcoming earnings reports will attract techs' attention Monday. Asian and European markets moved down, and the Dow is set to open flat.
Quarterly reports from bellwethers Applied Materials (Nasdaq: AMAT), Dell Computer Corp. (Nasdaq: DELL) and Cisco Systems Inc. (Nasdaq: CSCO) are due later this week.
Computer Sciences Corp (NYSE: CSC), CAIS Internet (Nasdaq: CAIS)and WorldQuest Networks (Nasdaq: WQNI) are slated to report their results Monday.
Microsoft (Nasdaq: MSFT) will be in the spotlight again after talk it plans to propose a restrictions for itself that would include 'hiding' its browser within Windows, letting computer makers customize the desktop and putting a halt to restrictive agreements.
As there are no economic reports Monday, investors may continue to chew over Friday's news that the jobless rate dropped to 3.9 percent in April, its lowest level in 30 years. The employment report was a strong indication the Fed may intensify its clamp-down on interest rates to slow inflation.
Monday's most actively traded issues may include: Cisco Systems, Microsoft, Verio, WorldGate Communications and CDNow.
Technology stocks closed out the week with strong gains Friday as the Nasdaq composite hustled up 97 points to 3,816.81. The Dow Jones industrial average closed up 165 points to finish at 10,577.86.
At the Bell
The Dow Jones industrial average may open about 41 points lower. The Standard & Poor's 500 index for June futures contracts was down 5.6 to 1433 at 7:30 a.m. EST in 24-hour electronic trading.
The Inter@ctive Week @Net Index was up 15 to 501.89.
Trading in Asia was moving down. The Nikkei 225 fell 1.30 to 18,199, Singapore's Strait Times index slipped 1.84 percent to 2,079 and Hong Kong's Hang Seng was down 2.41 percent to 14,901.
European markets were also in the red. London's FTSE 100 fell 0.44 percent to 6,211. The CAC 40 in Paris slipped 0.70 percent to 6,499 and the Xetra DAX in Frankfurt was down 1.13 percent to 7,445 at 6:53 a.m. EST.
Reuters contributed to this report.