Is the bloodletting over yet?
Preopen trading on electronic brokerage
was indicating that investors were easing a bit on selling, with
among others regaining some of what they've lost in the past couple days.
was lately the most actively traded stock after it was outbid by Italy's
on buying Britain's
. Investors rewarded Amerada by pushing it up $1.69 to $64.50 on about 277,100 shares.
was riding Amerada's wave and was up $1.75 to $47.38 on 67,900 shares.
was falling on its
fourth warning this year. The apple doesn't fall far from the tree; AT&T spinoff
warned its first-quarter loss would be larger than expected. AT&T was down $1.13 to $17.81 and Lucent $1.50 lower to $14.
beat estimates, it was getting roughed up this morning on news that it expects sales in the third quarter to slide a bit. The stock lately was down $4.38 to $33.75.
Futures were showing some optimism, indicating a flat to positive opening. The
S&P 500 futures on Globex lately were up 6 to 1285, about 5 points above fair value as calculated by Prudential Securities. The thinly traded Nasdaq 100 futures were up 7 to 2282, about 38 points above fair value as calculated by
Europe's major indices were steadily falling, with France's
off 0.3%, Germany's
down 0.4% and the U.K.'s
0.5% lower. Asian markets responded to the plunging American markets by plummeting themselves. Japan's
fell 3.5% overnight (its worst level in two years), while Hong Kong's
For Wednesday's postclose trading, see The Night Watch.