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America Recovers: Futures Indicate Flat or Weaker Opening

Aired October 22, 2001 - 05:47   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.
DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Good morning. I'm David Haffenreffer in New York with a look at this morning's top business news and financial stories.

The stock index futures suggesting a flat to slightly weaker open on Wall Street this morning, and the earnings parade marches on. American Express, 3M and SBC Communications are among the major companies reporting their quarterly results today. So far this earnings season, third quarter results have lacked bullish statements about the future investors hope -- like to hear, rather, but they also have not yielded huge disappointments either.

There is also an economic report coming out on the docket this morning. The Conference Board is scheduled to release its index of leading economic indicators for the month of September. That comes out at 10:00 a.m. Eastern Time. The LEI is designed to forecast the economy six months in advance. Economists are expecting a dip from the August reading.

And gas prices have fallen 9 cents a gallon in just the past two weeks. Analysts say travel fears continue to slow demand. According to the Lumberg (ph) survey, the average retail price of gas at U.S. pumps is $1.34 a gallon.

And that is a quick look at business.

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