Ovetii recently reported that stocks were set to open higher as results from mobile phone maker Motorola Inc. and fellow tech leader EMC Corp. helped ease worries about third-quarter earnings.
United States of America (Press Release) December 4, 2007 --
According to sources Ovetii researchers have deduced that optimism about a cut in interest rates soon added to the positive tone. The Federal Reserve's rate-setting committee is due to meet again soon and is expected to lower both the benchmark overnight federal funds rate and the discount rate.
Stock futures briefly pared gains after government data showed an unexpected decline in orders for durable goods and a fall in jobless claims that was smaller than expected.
An Ovetii senior analyst reportedly stated that the market was reacting to expectations that next week the Fed might cut rates.
Shares of Motorola rose more than 4 percent to $19.40 recently after it posted a third-quarter operating profit and offered an upbeat assessment of its outlook.
S&P 500 futures were up 4.30 points and 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 rose 37 points, and Nasdaq 100 futures gained 14 points.
Shares of EMC rose nearly 4 percent before the bell after the largest maker of data storage equipment posted earnings in line with market expectations and said it would double its stock buy-back target to $2 billion.
The Commerce Department releases new home sales soon. Sales are forecast to slip to an annual rate of 780,000 units from 795,000 in August, according to economists polled by Reuters.
Ovetii of Greece are yet to release an official report on the news.
Stock futures briefly pared gains after government data showed an unexpected decline in orders for durable goods and a fall in jobless claims that was smaller than expected.
An Ovetii senior analyst reportedly stated that the market was reacting to expectations that next week the Fed might cut rates.
Shares of Motorola rose more than 4 percent to $19.40 recently after it posted a third-quarter operating profit and offered an upbeat assessment of its outlook.
S&P 500 futures were up 4.30 points and 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 rose 37 points, and Nasdaq 100 futures gained 14 points.
Shares of EMC rose nearly 4 percent before the bell after the largest maker of data storage equipment posted earnings in line with market expectations and said it would double its stock buy-back target to $2 billion.
The Commerce Department releases new home sales soon. Sales are forecast to slip to an annual rate of 780,000 units from 795,000 in August, according to economists polled by Reuters.
Ovetii of Greece are yet to release an official report on the news.
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