US pre-open: Early gains likely
09-02-2010 13:51
US stocks look set to open with good gains as investors appear to be in a buying mood after the recent sell-off.
Last night, US blue chips closed below 10,000 for the first time in four months as the eurozone's mounting fiscal woes hit sentiment across the Atlantic.
The Dow Jones is expected to open 79 points higher on Tuesday, with the Nasdaq looking set to add 16 points. The S&P 500 is seen 11 points higher.
In earnings news, McDonald's saw same-store sales rise by 2.6% thanks to strong overseas sales. Dow components Coca-Cola and Walt Disney will report later today.
The problems besetting Japanese car maker Toyota deepened last night as it broadened its latest recall to include its Lexus HS 250 and Toyota Sai hybrid models in addition to the Prius hybrid.
All three models are being recalled because of concerns over the braking system. Toyota President Akio Toyoda said: "We have decided to recall as we regard safety for our customers as our foremost priority."
On the economic front, a report on wholesale inventories comes out after the markets open.
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