Futures: Stocks to Open Lower on Earnings

On Tuesday, Oracle's profit announcement provided a brief reprieve from the recent parade of grim earnings forecasts that have pummeled Wall Street. It was not enough to wipe away jitters completely, however, and by late afternoon, the rally had lost steam amid persistent worries about America's corporate profit meltdown.

The Nasdaq composite index initially jumped more than 3 percent but finished with a gain of just 4.03 points, or 0.2 percent, at 1,992.66. The tech-heavy market broke its first seven-session losing streak since December, 2000, according to MarketHistory.com.

The blue-chip Dow Jones industrial average fell 48.71 points, or 0.46 percent, to 10,596.67, pressured by a drop in Honeywell.

The Standard & Poor's 500 Index clung to a slim gain of 4.15 points, or 0.34 percent, at 1,212.58.

  • 1
  • |
  • 2
Join the Discussion
blog comments powered by Disqus
You Might Also Like...