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CNN Live At Daybreak

October Retail Sales to be Released Today

Aired November 14, 2001 - 06:50   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: First, though, we'll take a look at the business headlines this morning. David Haffenreffer checking in -- David.

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

Well earnings, energy and progress in the war in Afghanistan will be the focus once again on Wall Street today. Stock index futures pointing to a strong start for Wall Street. That could continue, yes, continue yesterday's rally. The Dow industrials surged 196 points, posting their strongest point gain since September 6. The Nasdaq composite rose 51 points or 2.8 percent. The Standard & Poor's 500 index gained 20 points. All three indexes are back above their September 11 levels.

Investors could get a better reading on consumer's attitudes this morning. At 8:30 a.m. Eastern time, October retail sales will be released. Economists forecast a rebound from September's drop, but most of the gain is expected to be from auto sales, all thanks to those 0 percent financing deals offered by many carmakers.

There will be more earnings from retailers today as well. Federated Department Stores is expected to post results before trading gets underway. And several technology companies are expected to hand in their quarterly numbers. After the close of trading, watch for Hewlett-Packard and the chipmaker -- chip equipment maker Applied Materials.

And oil prices are sharply lower in European trading right now. This, as traders doubt OPEC will cut production. Oil ministers are meeting in Austria about output levels.

That is a quick look at the business headlines on this Wednesday morning.

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