Market Updates

Market to Open Higher on Tame Inflation

Elena
13 Apr, 2007
New York City

    U.S. stock futures pointed to a higher opening on Friday, boosted by news of tame core producer prices and positive earnings and forecasts from GM, Merck and McDonald''s. The Labor Department reported that wholesale prices rose 1% in March due to more expensive gasoline and food, while core prices remained unchanged. GM rose 1% before the open after the bellwether''''s Q1 results came in line with expectations. Merck rose 4.3% after lifting its profit forecast for the year.

[R]9:15AM Stock futures gained on tame inflation.[/R]
U.S. stock futures pointed to a higher opening on Friday, boosted by news of tame core producer prices and positive earnings and forecasts from GM, Merck and McDonald's. The Labor Department reported that wholesale prices rose 1% in March due to more expensive gasoline and food, while core prices remained unchanged. General Motors ((GM)) rose 1% before the open after the bellwether''s Q1 results came in line with analysts expectations. Merck ((MRK)) rose 4.3% after lifting its profit forecast for the year, citing a strong demand for its products. McDonald's ((MCD)) said worldwide same-store sales rose 8.2% and said it expects Q1 earnings of 62 cents, up vs. analyst expectations of 57 cents per share. Apple ((APPL)) fell 1.3% in pre-market trading after saying it would delay the release of Leopard, the next upgrade of its Mac operating system. Dow futures expiring in June rose 26.00, or 0.21%, at 12,630. Standard & Poor's 500 index futures rose 2.80, or 0.19%, to 1,458.30, and Nasdaq 100 futures rose 2.75, or 0.15%, to 1,830.50.

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