The Nasdaq composite index goes into Wednesday's stock trading having seen better days -- such as exactly four years ago when it reached its all-time peak and just a day earlier when it was still above 2,000.
Early Wednesday, futures pointed to a slightly higher open for the major indexes.
The Nasdaq fell below 2,000, and turned lower for the year, in Tuesday's 0.7 percent decline as weakness in the chip sector continued. It was on March 10, 2000 that the composite closed at its all-time high, 5,048.62, that is now seen as the most blown-out point of the tech bubble.
The Dow Jones industrial average also fell 0.7 percent Tuesday.
Among the factors in Wednesday's market are two economic reports.
Before the open, the government reported that the U.S. trade deficit with the rest of the world expanded in January to its highest monthly level on record, as strong domestic demand and higher energy prices offset the effects of a weaker dollar.
The deficit grew to $43.1 billion from an upwardly revised $42.7 billion in December. Economists, on average, expected the trade gap to shrink to $42 billion, according to Briefing.com. The previous monthly record for the trade gap was $42.9 billion in March 2003.
After trading begins, the government's report on January wholesale inventories is expected to show a rise of 0.4 percent, compared with a 0.5 percent increase in the prior month.
Asian-Pacific stocks fell Wednesday, with Tokyo's Nikkei index down 0.9 percent after the Japanese government revised GDP growth in the October-December quarter downward. European markets slipped in morning trade. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Procter & Gamble (PG: Research, Estimates) rose 3 percent. The household products maker, a Dow component, raised its first-quarter profit outlook and its annual common dividend, saying sales are strong in several of its product lines.
Treasury prices retreated in early trading, sending the 10-year note yield up to 3.73 percent from 3.71 percent late Tuesday. The dollar lost ground against the yen, and was little changed versus the euro.
Brent oil futures gained 19 cents to $31.95 a barrel in London, where gold was down slightly.
Early Wednesday, futures pointed to a slightly higher open for the major indexes.
The Nasdaq fell below 2,000, and turned lower for the year, in Tuesday's 0.7 percent decline as weakness in the chip sector continued. It was on March 10, 2000 that the composite closed at its all-time high, 5,048.62, that is now seen as the most blown-out point of the tech bubble.
The Dow Jones industrial average also fell 0.7 percent Tuesday.
Among the factors in Wednesday's market are two economic reports.
Before the open, the government reported that the U.S. trade deficit with the rest of the world expanded in January to its highest monthly level on record, as strong domestic demand and higher energy prices offset the effects of a weaker dollar.
The deficit grew to $43.1 billion from an upwardly revised $42.7 billion in December. Economists, on average, expected the trade gap to shrink to $42 billion, according to Briefing.com. The previous monthly record for the trade gap was $42.9 billion in March 2003.
After trading begins, the government's report on January wholesale inventories is expected to show a rise of 0.4 percent, compared with a 0.5 percent increase in the prior month.
Asian-Pacific stocks fell Wednesday, with Tokyo's Nikkei index down 0.9 percent after the Japanese government revised GDP growth in the October-December quarter downward. European markets slipped in morning trade. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Procter & Gamble (PG: Research, Estimates) rose 3 percent. The household products maker, a Dow component, raised its first-quarter profit outlook and its annual common dividend, saying sales are strong in several of its product lines.
Treasury prices retreated in early trading, sending the 10-year note yield up to 3.73 percent from 3.71 percent late Tuesday. The dollar lost ground against the yen, and was little changed versus the euro.
Brent oil futures gained 19 cents to $31.95 a barrel in London, where gold was down slightly.
3287.99
1275.09
