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CNN LIVE EVENT/SPECIAL

America Recovers: Stock Index Futures Indicate Flat Opening; Gateway and Advanced Micro Devices Losses Wider Than Expected

Aired October 5, 2001 - 05:49   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: Right now, though, we want to get a check of the business news from David Haffenreffer.

Good morning again, David.

CAROL LIN, CNN ANCHOR: Hi, David.

DAVID HAFFENREFFER, CNN CORRESPONDENT: Hi, Catherine. Hi, Carol.

Well stock index futures are pointing, for the most part, to a flat open this morning for Wall Street following yesterday's mixed performance. Blue chips were not able to hang on to some early gains and the Dow industrials closed down 63 points. But technology stocks were able to hold in positive territory helped out by some reassuring comments from Dell Computer. The Nasdaq rose 16 points, although that was well off the best levels of the session.

But a warning from Gateway could pull tech shares lower today. The computer maker says its third quarter loss will be much wider than expected, saying the September 11 attacks hurt demand. And there is similar news out this morning from Advanced Micro Devices. The chipmaker also says its third quarter loss will be wider than forecast.

And the government releases the September Employment Report less than three hours from now. The jobless rate expected to tick up to 5 percent, but the full impact of the terrorist attacks will be hard to gauge since the report contains information from both before and after September 11.

This is a quick look at business.

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