Preopen Trading: Futures Action Suggests Market to Inch Higher on Open

Futures activity indicates the market should open ever-so-slightly higher, but otherwise the market is taking a wait-and-see approach in preopen action. Even priceline.com (PCLN Quote), yesterday's loser after an earnings warning, hadn't traded in the early morning action yet, according to Instinet.

Of late, S&P 500 futures were trading down 1.50 points to 1445.50, about 2.1 points above fair value, and the Nasdaq 100 futures were down 13 points to 3632, about 9 points above fair value. So trading in both futures contracts are suggesting the market will open a bit higher, although not by much, and for the last two days, fast starts out of the gate have proven only to be opportunities for investors to sell stocks.

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