Filed under: Before the bell, Earnings reports, Analyst reports, Yahoo! (YHOO), Market matters, Archer-Daniels-Midland (ADM), Office Depot (ODP), Sun Microsystems (JAVA), Initial public offerings, Housing

U.S. stock futures were higher this morning indicating stocks may be poised for a rebound at the open as investors focused on strength from the tech sector rather than financial sector woes, housing sector problems, the dollar skidding to yet another record low and oil once again near record highs.

Yesterday, U.S. stocks ended lower as Citigroup (NYSE: C) and after financials were hurt following Citigroup’s early announcement of up to $11 billion in writedowns due to subprime . The Dow industrials fell 51 points, or 0.38%, the S&P 500 lost 7 points or 0.5% and the Nasdaq Composite lost 15 points or 0.54%.

No major economic data is to be released today.
Oil prices rose to $95.75 a barrel (near the $96.24 intraday high) today on expectations of further declines in U.S. crude oil stocks — to be reported tomorrow — fueling supply concerns ahead of winter.

Continue reading Before the bell: Techs to the rescue — stocks poised for a rebound

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This entry was posted on Tuesday, November 6th, 2007 at 11:43 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.