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CNN Live Event/Special

America Recovers: Stock Index Futures Suggesting a Bit of Selling Today

Aired October 22, 2001 - 06:20   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.
CATHERINE CALLAWAY, CNN ANCHOR: Time to find out what's going on in the business world, at least overnight.

LEON HARRIS, CNN ANCHOR: That's right. That's right. David Haffenreffer checking in this morning at 20 after the hour.

Morning, David.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, certainly a relatively quiet morning, at least at this point, Leon and Catherine. We do have the stock index futures suggesting that we could see a bit of selling today. This, after stocks fell last week for the first time in a month. Distracted investors focused more on the widening anthrax scare and the military action in Afghanistan than on corporate profits.

The Dow industrials lost more than 1.5 percent on the week, the Nasdaq fell nearly 2 percent and the S&P 500 index slipped 1.7 percent. And while the major indexes have fallen since the September 11 terrorist attacks, they do remain well above their lows of the year hit on September 21.

We will find out if earnings news can recapture investor's primary attention. A variety of companies are scheduled to report quarterly results today, including such big names Dow component stocks as American Express, 3M and SBC Communications.

And the World Trade Organization says the trade ministers will hold their meeting next month in Qatar as scheduled. This, despite security concerns following the U.S.-led strikes on Afghanistan. Some countries reportedly wanted to move that gathering.

And that is a quick look at business.

Now back to Catherine in Atlanta.

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