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US pre-open: Investors await data

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Date: Wednesday 07 May 2008

LONDON (ShareCast) - US stocks are expected to be lower as investors await data on pending home sales and labor costs.

First quarter productivity figures are due at 8.30am while the National Association of Realtors' Pending Home Sales Index will also be announced.

In company news, Cisco reported sales and earnings that exceeded analysts’ expectations after the close Monday but its outlook was more conservative.

Entertainment group Walt Disney posted quarterly results that beat expectations.

Across the markets, the Dow Jones is expected to fall 24 points to 13,004 with the Nasdaq seen down 8 points to 1991. The S&P 500 is due to drop 4 points.

Oil futures continue to be high with a barrel of oil up 23 cents to $122.07.