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Stocks to watch Tuesday
Procter & Gamble raises forecasts; Oracle reports after the closing bell.
March 17, 2003: 7:56 PM EST

NEW YORK (CNN/Money) - U.S. stocks looked set to open flat Tuesday after Monday's big rally as investors digest a four-day market advance that has propelled the Nasdaq composite index up 4.3 percent on the year.

Standard & Poor's 500 and Nasdaq-100 futures were little changed in after-hours trading Monday, pointing to a steady start when the market opens for business Tuesday.

Federal Reserve policy-makers later Tuesday wrap up a one-day meeting on interest rates. Most economists expect no move from the Fed, which may want to wait out a possible war in Iraq before lowering borrowing costs again.

Shares of Procter & Gamble (PG: Research, Estimates) could be active. The maker of Tide detergent, Crest toothpaste and Pampers diapers late Monday raised its quarterly profit forecast in part because the weakening dollar lifted sales.

Krispy Kreme (KKD: Research, Estimates), Williams-Sonoma (WSM: Research, Estimates) and Winnebago Industries (WGO: Research, Estimates) release quarterly results before the market opens. But the most-watched figures will likely come from Oracle, which reports after the closing bell.

According to First Call, analysts are expecting Oracle to report earnings of 10 cents a share and revenues of $2.3 billion for its third quarter ended last month. That's slightly ahead of the same quarter last year, when the software maker reported revenue of $2.2 billion and earnings of 9 cents a share.

In economic data, February housing starts are expected to have slipped to an annual rate of 1.73 million from 1.85 million, according to the consensus estimate of analysts surveyed by Briefing.com. Building permits are also seen declining, to a rate of 1.75 million annually, from a 1.80 million annual rate.

On Monday, the Dow Jones industrial average and Standard & Poor's 500 index rose for a fourth session. But the Nasdaq is the only major index that's higher on the year following three straight annual declines for the U.S. stock market.  Top of page




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