Preopen Trading: Can it Be? Futures Point to Positive Open
Up and at 'em!
Oh, it's a beautiful day -- just look at futures. Yes, they are actually indicating we could have a positive opening.
The
S&P 500 futures on the
Globex
lately were up 7 points to 1259, about 11 points above fair value as calculated by
Prudential Securities
. The thinly traded
Nasdaq 100
futures were up 38 to 2095, or about 33 points above fair value as calculated by
TheStreet.com
.
Texas Instruments
(TXN)
is falling 2.2% in preopen trading after it warned that its first quarter will be worse than expected.
TheStreet Recommends
EMC
(EMC)
, which tumbled last week after it warned that its 2001 sales could fall below forecasts, this morning was in recovery mode on
Instinet
, up 75 cents to $45.75.
The badly beaten mobile phone makers, which fell steadily last week on fears of earnings warnings, were lately making gains and helping to lift Europe's major indices. France's
CAC-40
was rising 1.7%, Germany's
Xetra Dax
was jumping 2.1% and the U.K.'s
FTSE 100
was inching 0.2% higher. Japan's
Nikkei 225
lost 0.3% overnight, while Hong Kong's
Hang Seng
slipped 0.3%.
For more on the world stock markets, check out
TheStreet.com's
global indices information.
For Friday's postclose trading, see The Night Watch.
