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Tech Industry

MARKET PREVIEW: Wall Street looks to rally

    eBay should perk up Net stocks Friday as investors appear to like the latest round of tech results. Asian and European markets were all up and the Dow set to open higher on a strong futures outlook.

    U.S.

    eBay (Nasdaq: EBAY) should be active Friday after posting a solid quarter. After Thursday's market close, the online auctioneer reported fourth-quarter results that topped analyst expectations, with revenue increasing 81 percent. The company also said that gross profit margins improved significantly during the quarter.

    Among other big names reporting yesterday, Microsoft (Nasdaq: MSFT) met lowered expectations for its fiscal second quarter, Sun Microsystems (Nasdaq: SUNW) equaled the Street's numbers for its second quarter, and Nortel Networks (NYSE: NT) also matched analyst targets.

    Qualcomm (Nasdaq: QCOM) inked a Code Division Multiple Access (CDMA) modem card license deal with Matsushita Electronic Components Co. Wednesday, under which the Japanese company will develop third generation CDMA products.

    The U.S. government's trade balance report for November, set for release before the bell, is expected to slip to $33 billion from $33.2 billion the previous month, according to Briefing.com's survey of economists.

    Expect the following technology stocks to be among Friday's most actively traded issues: Commerce One (Nasdaq: CMRC), Inktomi (Nasdaq: INKT), Microsoft (Nasdaq: MSFT), eBay (Nasdaq: EBAY) and Nortel Networks (NYSE: NT).

    The Nasdaq rose 85.71 to 2,768.49 on Thursday while the Dow Jones industrial average also gained ground, up 93.94 to 10,678.28.

    At the Bell

    The Dow Jones industrial average is expected to open up 105 points. The Standard & Poor's 500 futures index gained 13.50 to 1369.50, above fair value, at 7:22 a.m. EST in 24-hour electronic trading.

    The Inter@ctive Week @Net Index rose 7 to 319.70.

    Asia

    The major Asian markets moved up. Hong Kong's Hang Seng and the Nikkei 225 both posted triple-digit gains, up 404.80 to 15,933.55 and 115.20 to 13,989.12, respectively. Singapore's Strait Times rose 19.30 to 1,906.89.

    Europe

    European markets traded higher as well. London's FTSE 100 moved up 42 to 6,251.90, the CAC 40 in Paris gained 83.14 to 5,943.30 and the DAX in Frankfurt traded up 103.92 to 6,739.68 at 7:09 a.m. EST.

    Reuters contributed to this report.