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Date: Thursday 01 May 2008

LONDON (ShareCast) - Wall Street is expected to begin slightly higher as investors contemplated yesterday's interest rate decision.

The central bank cut rates by a quarter point to 2% and suggested that it may take a break from its rate cutting policy.

Today, March personal income and spending data is due out, along with weekly jobless claims and March manufacturing activity.

Across the markets, the Dow Jones is expected to start up 14 points to 12,821 with the Nasdaq due to begin 5 points higher at 1928. The S&P 500 is seen 1 point higher at 1387.

In corporate news, Starbucks posted a 28% drop in second quarter profits and the coffee retailer reduced a further 30 sore openings from its 2008 plan.

The New York Times reports that Cablevision is preparing a $650m offer to buy Newsday from Tribune Co.