By John E. Fitzgibbon, Jr.
Before the Bell -
Monday , Oct. 22
The market is expected to open mixed to lower
this morning. Stock futures had been selling lower in early
morning trading, but staged a late pre-opening recovery to
push prices near Friday‚Äôs close.
Earnings reports, spreading bioterrorism and shaky economic
news are expected to dominate the stock market this week.
Wall Street is bracing itself for another massive round of
earning reports. This week, more than 1,200 companies will
announce quarterly results.
Three Dow Jones component stocks are expected to report third-quarter
results today. They are: American Express (NSYE: AXP) is expected
to report $0.30 a share, Minnesota Mining & Manufacturing
(NYSE: MMM) is expected to report $1.09 a share and, pre-opening,
SBC Communications (NYSE: SBC) reported $0.59 a share, missing
estimates of $0.60 a share, but up from $0.57 a year ago.
On the economic front, at 10:00 am, September leading economic
indicators are expected to decline 0.5 percent.
Global stocks are mixed, but U.S. shares are trading lower