Friday August 8, 01:15 PM
US pre-open: Markets seen with modest gains
LONDON (ShareCast) - US markets are expected to post modest gains as oil prices slipped lower and investors waited for a report on productivity. Crude futures have tumbled nearly $2 in electronic trading and are down to $118.06 a barrel
as the dollar rose.On the economic front, Investors will keep an eye out for the Labor department's productivity data due out later today. Also likely to move the market is second-quarter results from Fannie Mae (NYSE: FNM - news) , which is expected to post huge losses on the back of the credit crunch. Across the markets, the Dow Jones (news) is seen up 28 points to 11,467 with the Nasdaq (NASDAQ: news) expected to rise 7 points to 1893. The S&P 500 is seen 3 points higher.
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