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CNN Live At Daybreak

Earnings From Texaco, Chevron and Goodyear Expected Along with Mixed Opening

Aired October 25, 2001 - 05:45   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.
DARYN KAGAN, CNN ANCHOR: We need to hear from David Haffenreffer, who is standing by with business news -- David, good morning again.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Yes, right, Daryn -- thanks very much -- good morning to you both.

Chevron, Texaco, Goodyear Tire and JDS Uniphase are just a few of the big-name companies set to release their earnings reports today. Despite one of the worst financial quarters in years, Wall Street has proven pretty resilient up until this point.

Right now, stock index futures are pointing to a mixed open for us today. We'll see if the markets can build on yesterday's modest gains, at least for the Dow industrials. The Nasdaq composite climbed 1-and-a-half percent to its highest level since the September 11 terrorist attacks. Elsewhere, the Dow industrials and the S&P 500 index edged just slightly higher.

Economic numbers will be sharing the spotlight with earnings later on this morning. A batch of reports are set to be released beginning at 8:30 a.m. Eastern Time.

And the most closely-watched report may well be the weekly jobless claims number. They are expected to show another increase in the number of Americans filing for first-time benefits.

Due out as well are the latest figures in the employment cost index, which is a measure of wage inflation, September orders for durable goods, and at 10:00 a.m. Eastern Time, September sales for existing homes.

And we'll also see how investors react to the $100 billion economic stimulus plan passed late yesterday by the House of Representatives.

And that is the latest financial news.

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