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CNN Live At Daybreak

Futures Pointing to a Modestly Higher Start Today

Aired November 26, 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: We're going to take you now to CNN's financial desk in New York and talk with CNN's Deborah Marchini.

Deborah, a lot of news this weekend, we had the human embryo cloning, we have lots of developments going on in Afghanistan. Interesting to see how the markets will react today.

DEBORAH MARCHINI, CNN FINANCIAL NEWS CORRESPONDENT: Indeed, and especially, of course, after we saw some light trading on Wednesday and Friday because they surrounded the holiday.

Stocks are likely to pick up after -- where they left off after Friday's rather shortened session. The futures are pointing to a modestly higher start for the broader market. And for technology stocks, 125-point rally Friday helped to lift the Dow nearly 1 percent for the four-day trading week. The Nasdaq gained 25 points Friday, just two-tenths of a percent on the week though.

Not too much out there to drive the markets today in terms of economic news. The first big important economic report of the week doesn't come until tomorrow, that's when we get the Conference Board's latest monthly figures on consumer confidence.

Keep an eye on retail stocks. Telecheck, a check approval service, says items paid for by check at stores open at least a year were up 2.4 percent Friday compared to last year, and that is a little better than estimates for the first day of the holiday shopping season. Checks account for only about a third of retail spending, but it does give you some idea that maybe spending wasn't as sour as some people thought -- Catherine.

CALLAWAY: Did you spend any money on Christmas shopping, holiday shopping this weekend?

MARCHINI: I've got to say I did. I started.

CALLAWAY: Good for you.

MARCHINI: This was a present for my sister-in-law, but I still have a long list to go.

CALLAWAY: Oh, well have fun with it.

MARCHINI: Indeed, thanks. CALLAWAY: Spend lots of money. Help the economy.

Thanks, Deborah.

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