Wall Street to consider Intel's earnings, await GM and IBM results as rally extends.
Intel's strong earnings report could set the tone for Wednesday's U.S. stock market trading, as investors also await results from General Motors and IBM as well as the government's report on September retail sales.
At 5:15 a.m. ET, futures indicated a higher start for the major indexes, which on Tuesday again set highs going back as far as January of last year.
Intel posted better-than-expected third-quarter earnings and sales late Tuesday. The No. 1 maker of semiconductors also gave a current-quarter sales projection that was slightly above the previous analysts' consensus. Merrill Lynch raised its price target on Intel early Wednesday to $40 from $32, while Smith Barney boosted its target to $38 from $33; both firms maintained "buy" recommendations.
Intel (INTC: Research, Estimates) shares rose 72 cents to $31.80 in Instinet trading Wednesday, according to Reuters.
The only Dow component slated to report results before the open Wednesday is GM (GM: Research, Estimates). The world's leading vehicle maker is seen posting a third-quarter profit of 66 cents a share, down from $1.20 a share a year earlier, according to a consensus of analysts surveyed by First Call.
Among U.S. stocks trading in Europe, GM shares were up nearly 2 percent.
Other companies slated to post quarterly numbers before the opening bell include banker FleetBoston (FBF: Research, Estimates), aerospace contractor General Dynamics (GD: Research, Estimates) and motorcycle maker Harley-Davidson (HDI: Research, Estimates).
IBM (IBM: Research, Estimates) is the Dow component putting out its third-quarter results after trading concludes. The leading computing company is forecast to post a profit of $1.02 a share, up from 99 cents in the prior year.
Also due after the close are Apple Computer (AAPL: Research, Estimates), insurer Allstate (ALL: Research, Estimates) and video renter Netflix (NFLX: Research, Estimates).
As for the economy, September retail sales are seen having fallen 0.1 percent after a 0.6 percent rise in August, according to a consensus of economists surveyed by Briefing.com. Excluding autos, sales are projected to have risen 0.4 percent.
Both the Dow Jones industrial average and Nasdaq composite index are 2-for-2 on the bullish side this week after 0.5 percent gains Tuesday. The Dow, at a 16-month high, is within 200 points of 10,000, while the Nasdaq has moved to within 57 points of 2,000 at a 20-month high.
Asian-Pacific stocks were mixed Wednesday, with Tokyo's Nikkei retreating 0.6 percent. European markets began their day with gains. (Check the latest on world markets)
Treasury prices pulled back in early trading, sending the 10-year note yield up to 4.35 percent from 4.34 percent late Tuesday. The dollar gained ground against the yen and euro.
Brent oil futures dipped 11 cents to $29.92 a barrel in London, where gold edged higher in early trading.
Intel's strong earnings report could set the tone for Wednesday's U.S. stock market trading, as investors also await results from General Motors and IBM as well as the government's report on September retail sales.
At 5:15 a.m. ET, futures indicated a higher start for the major indexes, which on Tuesday again set highs going back as far as January of last year.
Intel posted better-than-expected third-quarter earnings and sales late Tuesday. The No. 1 maker of semiconductors also gave a current-quarter sales projection that was slightly above the previous analysts' consensus. Merrill Lynch raised its price target on Intel early Wednesday to $40 from $32, while Smith Barney boosted its target to $38 from $33; both firms maintained "buy" recommendations.
Intel (INTC: Research, Estimates) shares rose 72 cents to $31.80 in Instinet trading Wednesday, according to Reuters.
The only Dow component slated to report results before the open Wednesday is GM (GM: Research, Estimates). The world's leading vehicle maker is seen posting a third-quarter profit of 66 cents a share, down from $1.20 a share a year earlier, according to a consensus of analysts surveyed by First Call.
Among U.S. stocks trading in Europe, GM shares were up nearly 2 percent.
Other companies slated to post quarterly numbers before the opening bell include banker FleetBoston (FBF: Research, Estimates), aerospace contractor General Dynamics (GD: Research, Estimates) and motorcycle maker Harley-Davidson (HDI: Research, Estimates).
IBM (IBM: Research, Estimates) is the Dow component putting out its third-quarter results after trading concludes. The leading computing company is forecast to post a profit of $1.02 a share, up from 99 cents in the prior year.
Also due after the close are Apple Computer (AAPL: Research, Estimates), insurer Allstate (ALL: Research, Estimates) and video renter Netflix (NFLX: Research, Estimates).
As for the economy, September retail sales are seen having fallen 0.1 percent after a 0.6 percent rise in August, according to a consensus of economists surveyed by Briefing.com. Excluding autos, sales are projected to have risen 0.4 percent.
Both the Dow Jones industrial average and Nasdaq composite index are 2-for-2 on the bullish side this week after 0.5 percent gains Tuesday. The Dow, at a 16-month high, is within 200 points of 10,000, while the Nasdaq has moved to within 57 points of 2,000 at a 20-month high.
Asian-Pacific stocks were mixed Wednesday, with Tokyo's Nikkei retreating 0.6 percent. European markets began their day with gains. (Check the latest on world markets)
Treasury prices pulled back in early trading, sending the 10-year note yield up to 4.35 percent from 4.34 percent late Tuesday. The dollar gained ground against the yen and euro.
Brent oil futures dipped 11 cents to $29.92 a barrel in London, where gold edged higher in early trading.
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