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CNN Live Event/Special

America Strikes Back: Military Action Keeps Investors Anxious

Aired October 09, 2001 - 06:17   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
LEON HARRIS, CNN ANCHOR: David Haffenreffer has a job to do this morning.

CAROL LIN, CNN ANCHOR: You bet, and a tough one. Defining what -- how Wall Street might shape up today.

HARRIS: Morning, David.

LIN: Morning, David.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: It's anybody's guess at this point,...

LIN: Yes.

HAFFENREFFER: ... certainly, but at least at this early going hour here stocks could rise at the start of trading, this according to how the stock index futures are pointing right now. But a second day of military action of course is expected to keep investors somewhat anxious and third quarter earnings season swings into full gear today.

After the closing bell, Motorola and Harley-Davidson will hand in quarter report cards. According to First Call, a company that tracks corporate earnings, analysts expect third quarter profits will be 20 percent lower than the same time a year ago. The brokerage firm Credit Suisse First Boston says it may cut up to 2,000 investment banking jobs after posting a loss in the latest quarter, and Borders warns of a wider-than-expected loss in the third quarter. The bookseller, which had a store at the World Trade Center, says sales were hurt by the September 11 attacks. Investors will also hear today from Procter & Gamble. The maker of Tide detergent and Crest toothpaste will update shareholders on its corporate restructuring program.

That is a quick look at the business headlines.

Leon and Carol, back to you.

LIN: All right, thanks so much, David.

HARRIS: All right, thanks, David.

LIN: Keep our fingers crossed for Wall Street today.

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