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Traders will consider PPI, Dell
Thursday May 11 by Claudia bourne
A key inflation measure - the Producer Price Index - is due out before the opening bell Friday, and investors may take their cue from it. Expectations suggest tame wholesale inflation, and a benign PPI report could ease traders' minds about the Federal Reserve meeting Tuesday. The Fed is expected to raise interest rates by as much as half a point. Tech stocks stormed back Thursday as investors decided that many top issues were bargains after the Nasdaq composite's recent slump. Techs may get another boost Friday on the heels of an upside earnings surprise by Dell Computer after the bell. On Thursday, stocks rebounded sharply, enlivened by a retail sales report that eased pressure for higher interest rates. The Dow Jones industrial average jumped 178.19 to 10,545.97. The Nasdaq gained 114.85 to 3499.58.
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