Wall Street Seen Mixed Ahead of CPI


By Marie Maitre PARIS (Reuters) - Wall Street is seen opening unchanged at best on Wednesday ahead of inflation figures and with oil prices still firmly above $50 a barrel. On the corporate front, technology stocks will be in focus with earnings from telecoms equipment maker Ciena (CIEN.O: Quote , Profile , Research ) , and possible comments from personal computer giant Dell (DELL.O: Quote , Profile , Research ) , Internet equipment maker Cisco (CSCO.O: Quote , Profile , Research ) and software maker Adobe Systems (ADBE.O: Quote , Profile , Research ) at a Goldman Sachs investment conference. Merger activity may give markets a shot in the arm. Banana and fruit distributor Chiquita Brands International (CQB.N: Quote , Profile , Research ) was expected to announce on Wednesday that it was buying bagged salad maker Fresh Express from Performance Food Group (PFGC.O: Quote , Profile , Research ) for $855 million, the Wall Street Journal reported. Las Vegas gaming giant Harrah's Entertainment (HET.N: Quote , Profile , Research ) said it plans to team up with Singapore's Keppel Land (KLAN.SI: Quote , Profile , Research ) in a joint US$3.3 billion plan to build Singapore's first casino resort. By 5:30 a.m. EST, U.S. stock futures were pointing to opening levels between flat and 0.3 percent lower for the three main indexes (SPH5: Quote , Profile , Research ) (DJH5: Quote , Profile , Research ) (NDH5: Quote , Profile , Research ) . On Tuesday, the Dow Jones industrial average closed down 1.61 percent to 10,611.20, while the technology-laced Nasdaq Composite Index shed 1.37 percent to 2,030.32. Crude will remain one of the market's main concerns, with prices held above $51 a barrel by frigid weather in Europe and the United States, and Tuesday's sharp decline in the dollar. Comments from OPEC officials that the oil cartel would act to help cool oil markets if prices kept rising had very little impact on oil prices, which stayed near 15-week highs. "Oil prices will continue to be a major factor in the days ahead and could further hinder equities," said Angus Campbell at Finspreads in London. "Even better-than-expected consumer confidence figures in the U.S. couldn't stop major short covering."     Continued ...
Quelle "Wall Street Seen Mixed Ahead of CPI" : reuters.com

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