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US pre-open: Modest gains seen

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Date: Wednesday 20 Aug 2008

LONDON (ShareCast) - US markets are expected to begin with modest gains after good results from computer maker Hewlett Packard.

After the closing bell yesterday, HP posted third quarter earnings that topped estimates. The group said profit jumped 14% in the period thanks to higher laptop sales.

The Dow Jones is expected to start up 45 points to 11,401 with the Nasdaq seen 9 points higher at 1928. The S&P 500 is due to start up 3 points.

Crude prices continue to creep forward with a barrel of oil up 68 cents to $115.22.

In other company news, BJ's Wholesale Club saw its second quarter earnings increase slightly and raised its full-year earnings forecast.

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