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America Recovers: Investors Focusing on Corporate Earnings Today

Aired October 15, 2001 - 06:49   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: But first, let's get a check of the business headlines this morning with David Haffenreffer. There you see him.

David, good morning.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Hi, Leon. Hi, Carol.

Well, we could see the markets struggle to build on last week's momentum this morning. The latest reading from SOC (ph) index futures pointing to a good amount of selling pressure at the open for both techs and the broader market.

In addition to the ongoing military strikes in Afghanistan, investors will also be focusing on corporate earnings today. Nearly 180 of the companies that make up the Standard & Poor's 500 index and half of the Dow 30 are expected to roll out their results this week. And when you combine all of them, it will be certainly a very busy week for those companies.

One of the companies severely damaged and hurt in the World Trade Center attacks, Cantor Fitzgerald, the bond broker, announcing today it will be closing its Frankfurt and Paris offices to cut costs following the September 11 attack on the Trade Center which more than 700 of its employees were killed.

And that is the latest in business news.

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