07/07/2003 13:22
U.S. investors return from holiday weekend, appear ready to buy while awaiting earnings reports.
Wall Street returns from a long holiday weekend Monday, with the first signs of second-quarter earnings facing it in the week ahead appearing to cheer the bullish sentiment in the market.
At 5:30 a.m. ET, futures pointed to a higher start for the major indexes. The markets reopen Monday after a half-day session Thursday in advance of the July 4 holiday.
Investors are gearing up for the quarterly earnings reporting period that begins this week. Among the major companies scheduled to report results are Dow components Alcoa (AA: Research, Estimates) and General Electric (GE: Research, Estimates), Internet bellwether Yahoo! (YHOO: Research, Estimates) and soft drink maker PepsiCo (PEP: Research, Estimates).
The Dow Jones industrial average, despite Thursday's 72-point decline, was up nearly 1 percent for the week . The Nasdaq composite index gained 2.3 percent even though it was down 15 Thursday, when the government reported a higher-than-expected unemployment rate of 6.4 percent.
Asian-Pacific stocks rallied Monday, with Tokyo's Nikkei up 2.6 percent to a 10-month high. European markets started with gains. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Oracle (ORCL: Research, Estimates) was slightly lower. The business software maker extended its acquisition offer for rival PeopleSoft (PSFT: Research, Estimates), but chairman Larry Ellison said in an interview that he's not sure he'll add any more to the $6.3 billion offer already on the table.
Treasury prices rose in early trading, sending the 10-year note yield down to 3.65 percent from 3.64 percent late Thursday. The dollar weakened against the yen, but was higher versus the euro.
Brent oil futures gained 16 cents to $27.75 a barrel in London, where gold edged higher.
Among stocks to watch Monday are apparel makers VF (VFC: Research, Estimates) and Nautica (NAUT: Research, Estimates). VF agreed Monday to acquire Nautica in a $586 million deal that's worth $17 a share in cash to Nautica holders. Nautica closed Thursday at $13.19 a share, down 15 cents, while VF was unchanged at $34.04.
Wall Street returns from a long holiday weekend Monday, with the first signs of second-quarter earnings facing it in the week ahead appearing to cheer the bullish sentiment in the market.
At 5:30 a.m. ET, futures pointed to a higher start for the major indexes. The markets reopen Monday after a half-day session Thursday in advance of the July 4 holiday.
Investors are gearing up for the quarterly earnings reporting period that begins this week. Among the major companies scheduled to report results are Dow components Alcoa (AA: Research, Estimates) and General Electric (GE: Research, Estimates), Internet bellwether Yahoo! (YHOO: Research, Estimates) and soft drink maker PepsiCo (PEP: Research, Estimates).
The Dow Jones industrial average, despite Thursday's 72-point decline, was up nearly 1 percent for the week . The Nasdaq composite index gained 2.3 percent even though it was down 15 Thursday, when the government reported a higher-than-expected unemployment rate of 6.4 percent.
Asian-Pacific stocks rallied Monday, with Tokyo's Nikkei up 2.6 percent to a 10-month high. European markets started with gains. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Oracle (ORCL: Research, Estimates) was slightly lower. The business software maker extended its acquisition offer for rival PeopleSoft (PSFT: Research, Estimates), but chairman Larry Ellison said in an interview that he's not sure he'll add any more to the $6.3 billion offer already on the table.
Treasury prices rose in early trading, sending the 10-year note yield down to 3.65 percent from 3.64 percent late Thursday. The dollar weakened against the yen, but was higher versus the euro.
Brent oil futures gained 16 cents to $27.75 a barrel in London, where gold edged higher.
Among stocks to watch Monday are apparel makers VF (VFC: Research, Estimates) and Nautica (NAUT: Research, Estimates). VF agreed Monday to acquire Nautica in a $586 million deal that's worth $17 a share in cash to Nautica holders. Nautica closed Thursday at $13.19 a share, down 15 cents, while VF was unchanged at $34.04.
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