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CNN Live At Daybreak

Wall Street Could Start Off With Some Selling

Aired November 12, 2001 - 06:48   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: Coming up, we'll have a check of the business headlines for you.

KYRA PHILLIPS, CNN ANCHOR: That's right. I think we're going to check in with David Haffenreffer, actually, right now. He's going to give us the latest -- or the latest scoop, I should say. We can't say numbers yet.

HARRIS: No, we can't.

PHILLIPS: Hi, David.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Why wait another moment? Good morning to you both.

Wall Street could very well start the week off with some selling today, this according to the stock index futures, which are posting -- pointing to a negative start for us.

Investors poised to hear how many retailers performed in the third quarter. May Department Stores expected to hand in its quarterly earnings report today. Also out this week, Dow component Wal-Mart, and Home Depot, as well as Gap.

Wednesday, we'll get a reading on October retail sales. Last week, individual retailers released sales figures. Department and specialty stores posted sharp sales declines as consumers, well, they keep looking for bargains at discount stores.

And on Friday, we'll get a look at the consumer price index. That is expected to show that inflation continues to not be a worry.

Walter Hewlett, the son of Hewlett-Packard co-founder, has hired a consulting firm now to reportedly assist his opposition to the $20.5 billion Compaq deal. HP also cancelled its analyst meeting in early December, setting a need to prepare additional details about that deal.

And that is a quick look at business on this Monday morning -- Leon and Kyra, back to you.

HARRIS: All right, thanks, David.

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