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Wash day on Wall St.
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August 7, 2001: 6:07 a.m. ET
Expected earnings reports from P&G, Cisco to determine how tide turns
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NEW YORK (CNNfn) - Anticipated earnings reports from household products maker Procter & Gamble and Internet equipment leader Cisco Systems will help influence how U.S. stock markets bounce Tuesday.
Early indications pointed to a lower open. Nasdaq-100 futures were moderately lower, a sign that the Nasdaq market would open in negative territory. Standard & Poor's futures fell modestly, indicating a weak start for the Dow Jones industrial average and S&P 500.
Procter & Gamble (PG: Research, Estimates) -- the maker of such products as Tide detergent, Crest toothpaste and Pampers disposable diapers -- is scheduled to report fiscal fourth-quarter earnings before trading begins. The Dow component is expected to post a profit of 59 cents a share, up from 55 cents a year earlier. P&G rose 53 cents Monday to $70.75.
Also among the companies due before the bell are biotech Cephalon (CEPH: Research, Estimates) and insurer MetLife (MET: Research, Estimates) .
After the closing bell comes Cisco (CSCO: Research, Estimates). The No. 1 maker of Internet routers and other networking equipment is expected to report a profit of 2 cents a share, down from 16 cents a year earlier. And, as usual for the big technology companies, analysts will be going through the release and listening to the conference call for any indication of a brighter future or the same old slump.
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 MONEY.COM
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Columnist David Futrelle previews Cisco Systems' fourth-quarter results.
click here
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Also slated after the close, among others, are family restaurateur Bob Evans Farms (BOBE: Research, Estimates) and consulting firm KPMG Consulting (KCIN: Research, Estimates) .
Another tech leader, chipmaker Intel (INTC: Research, Estimates), was blamed for the weakness in stocks Monday. Analysts weighed in on the company, with Lehman Brothers warning of severe price-cutting and two others reducing estimates for the company. Intel finished down $1.40 at $30.28.
The Dow Jones industrial average begins the day at 10,401.31 following Monday's 1 percent drop. The Nasdaq composite index is at 2,034.26 after sliding 32 points, while the S&P 500 is barely above 1,200 following a nearly 14-point tumble.
Asian stocks finished mixed Tuesday, with Tokyo's Nikkei index gaining and Hong Kong's Hang Seng index declining. European markets opened lower.
Treasury prices were little changed in early trading. The 10-year note yield stood at 5.15 percent while the 30-year bond yield held at 5.59 percent.
The dollar gained against both the yen and euro. Brent oil futures rose 6 cents to $25.89 a barrel in London.
There's also some economic data to chew on. The federal government releases its first take on second-quarter productivity, with economists surveyed by Briefing.com expecting a rise of 1.7 percent, compared with
a decline of 1.2 percent in the first quarter. 
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