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CNN Live At Daybreak

Cautious Opening Predicted for Market Today

Aired November 16, 2001 - 05:44   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: Let's get a check of the business headlines. How's that for a segue?

CATHERINE CALLAWAY, CNN ANCHOR: Good morning, David.

HARRIS: Let's say good morning to David Haffenreffer, checking in from New York -- David.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Leon, as long as it's you shaking out your underwear, it's fine with me.

It is a Friday morning, and we do get trading under way here in just a few hours' time. It looks as though Wall Street is getting prepared for somewhat of a cautious start for the day today. Investors may be waiting on some key economic data before making any moves this morning.

And we do have three reports coming out. First up, the consumer price index, which is an inflation report -- expected to have eased a bit in the month of October -- this due to plunging energy prices.

Now, separately, industrial production is seen showing a decline as manufacturing activity shows no sign of improving.

And finally, confidence in the housing market also expected to drop, due to the slowing U.S. economy.

Now, keep in eye on the price of oil as well today. The price has lost more than $4 a barrel and OPEC and non-member nations remain in a bit of a stand off over production cuts -- the price of oil, at the moment, currently trading higher in European trading.

That is the latest in business news on this Friday morning.

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