Looks like investors are in a generous mood. They're shaking off the latest warnings, which come from
, setting up to push stocks higher when the market opens.
Intel last night said its fourth-quarter revenue won't meet expectations. This is the second quarter in a row the chipmaker has warned that it would have an earnings disappointment.
separate story on Intel's problems.
And Coca-Cola Enterprises, which makes and distributes products for
, said its volume in the fourth quarter would be lower than its previous guidance because of weakness in its Canadian business. It also said fiscal 2001 earnings would be lower than current expectations because of currency exchange problems.
Despite other recent warnings that have knocked down the market, investors don't seem to be letting last night's news keep them down. Futures for the large-cap
trading on the
exchange, for example, were up 92.50 to 2815, putting them about 46 points above
S&P 500 futures were up 13.3 to 1369.8, giving them an advantage of almost 7 points above fair value. Fair value helps gauge how stocks will trade in early action, and today they point to positive territory for both tech and the broad market.
All eyes, however, will be on the
jobs report when it comes out at 8:30 a.m. EST to see what it says about the current state of the employment rate. The November edition of the jobs report -- which contains information about both job and wage growth -- is expected to confirm that the economy is slowing.
preview of what the report will mean for the markets.
Overseas markets were mostly higher. In Paris, the
was gaining 65.95 to 6050.64 and the German
was up 114.97 to 6681.05. In London, the
was adding 97.20 to 6328.60. Asian markets were mixed, with the
in Hong Kong moving 177.81 higher to close at 15189.33. In Japan, the
lost 64.72 to close at 14655.64.
For Thursday's postclose trading, see The Night Watch.