Stock Futures Point to Bounce According to 60minutetrader.com

Wilmington, DE (PRWEB) March 3, 2006

U.S. stock index futures pointed to a healthier market as positive corporate news out of Europe cheered investors after steep losses in the previous session.

A number of European companies, such as Spanish telecommunications company Telefonica, and French media conglomerate Vivendi Universal, all reported robust quarterly results.

“This was being dominated by two factors — positive news across the pond and a little bounce off of some sharp sell-offs,” said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.

S&P 500 futures SPc1 were up 2.8 points, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.

Dow Jones industrial average futures DJc1 rose 31 points, and Nasdaq 100 NDc1 futures were up 4 points.

Investors will also need to keep a keen eye on several economic indicators for clues about the health of the economy and the outlook for interest-rate policy.

Among the most important data will be, personal income and spending report.

Economists expect the core PCE index to post a 0.2 percent rise for January after edging up 0.1 percent in the previous month. The data are due at 8:30 a.m. (1330 GMT).

Web search engine Google Inc. issued a statement to reaffirm that it still sees plenty of room to improve on how it makes money selling advertising alongside its popular Web search results.

Shares of Google plunged 7.1 percent to $ 362.62after Chief Financial Officer George Reyes said the company’s key revenue source, Internet-search advertising, would see slower growth.

Clothing retailers Chicos FAS Inc, American Eagle Outfitters Inc. and Men’s Warehouse Inc. are set to report earnings later in the Week.

On Tuesday, the Dow Jones industrial average .DJI ended down 104.14 points, or 0.94 percent, at 10,993.41. The Standard & Poor’s 500 Index .SPX closed 13.46 points lower, or 1.04 percent, at 1,280.66. The Nasdaq Composite Index .IXIC was down 25.79 points, or 1.12 percent, at 2,281.39.

To learn more about futures Trading go to http://www.60minutetrader.com

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