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CNN Live Event/Special

America Recovers: S&P 500 and Nasdaq Back at Levels Reached Before September 11

Aired October 12, 2001 - 05:53   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.
CAROL LIN, CNN ANCHOR: We want a repeat. That's what we want on Wall Street.

LEON HARRIS, CNN ANCHOR: There you go.

LIN: Hard to believe, David Haffenreffer, that a month later that we would actually see the market go even just a little bit higher than September 11.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Hard to believe, I think, but I think what everybody wants now is a threepeat.

HARRIS: There you go.

HAFFENREFFER: That would bring us three days in a row...

LIN: You're absolutely right.

HAFFENREFFER: ... of big gains. Yes, we'll have to see.

At least at this point of the morning it doesn't look as positive as it did over the past couple of days where the futures are now pointing to a bit of a mixed start for us. Better-than-expected economic figures inspired investors yesterday. The S&P 500 index and the Nasdaq composite are now back above levels reached before the September 11 attacks. The Dow industrials about 200 points away from that level, but they did climb another 169 points on Thursday.

A little bit later on this morning we'll get more readings on the economy with the release of the Producer Price Index, that's a measure of wholesale inflation, and the Census Bureau's release of September retail sales figures.

As for stocks, watch Juniper Networks, a maker of Internet router equipment. Its third quarter profits of $60.3 million beat the Street's expectations. Juniper's report could give other networking stocks a bit of a boost.

At 55 minutes after the hour, that is the latest financial news.

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