Preopen Trading: After a Dismal Week, Tech Looking to Bounce Back
Tech was the talk this morning in early preopen trading.
Lately on electronic brokerage
Instinet
, big-caps were working on recovering some of what they lost last week.
Cisco Systems
(CSCO) - Get Cisco Systems Inc. Report
was up 25 cents to $28.44, software giant
Microsoft
(MSFT) - Get Microsoft Corporation Report
was gaining 88 cents to $60 and
Intel
(INTC) - Get Intel Corporation Report
was 25 cents higher to $33.75.
WorldCom
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, though, hadn't recently hit its recovery point yet and was continuing to slide. The long distance company reported earnings last week
TheStreet Recommends
in line with estimates but far lower than year-ago estimates. The stock was off $1.31, or 6.5%, to $19.
Early on, futures were pointing to a positive opening at the bell. The
S&P 500 futures on
Globex
lately were up 3 to 1324, about 5 points above fair value as calculated by
Prudential Securities
. The thinly traded
Nasdaq 100
futures were up 14 to 2291, or almost 20 points above fair value as calculated by
TheStreet.com
.
Europe's major indices were slightly higher, with France's
CAC 40
up 0.3%, Germany's
Xetra Dax
up 0.6% and the U.K.'s
FTSE 100
0.6% higher. Hong Kong's
Hang Seng
slipped 1.1%. Japan's
Nikkei 225
was closed for a holiday.
For more on the world stock markets, check out
TheStreet.com's
global indices information
For Friday's postclose trading, see The Night Watch.
