NEW YORK (CNN/Money) -
Some negative news from microchip makers Intel and Texas Instruments set U.S. stocks up for an opening decline Tuesday, as investors await comments scheduled before the open by Fed Chairman Alan Greenspan.
Early Tuesday, Nasdaq and S&P futures were lower.
The European Commission has rekindled a three-year-old probe into Intel (INTC: Research, Estimates), asking new questions about the world's No. 1 chip producer's business practices, according to sources close to the situation cited by Reuters.
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For details of Monday's surge, click above
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Shares of Intel were slightly higher in Frankfurt trading early Tuesday following a gain of 61 cents to $28.75 in New York trading Monday.
Texas Instruments (TXN: Research, Estimates), the world's largest maker of chips for cell phones, raised its earnings guidance to the high end of its previous forecast in an after-hours statement Monday. But it narrowed the range for its revenue guidance with a new upper end lower than the top of the earlier guidance.
TI shares fell 44 cents to $25.79 in after-hours trading, following a gain of $1.02 in regular hours trading.
The Dow Jones industrial average and Nasdaq composite index both posted big gains Monday as oil prices declined and optimism about an economic recovery grew. The Dow was up 1.5 percent, while the Nasdaq rallied 2.1 percent. (see chart for details).
Asian-Pacific stocks ended higher Tuesday, with Tokyo's Nikkei index up 0.7 percent. European markets were mixed around midday. (Check the latest on world markets)
Treasury prices fell in early trading, sending the 10-year note yield up to 4.77 percent from 4.76 percent late Monday. The dollar rose against the yen, but was weaker versus the euro.
U.S. crude oil futures rose 29 cents in electronic trading to $38.95 a barrel. Brent oil futures gained 46 cents to $36.42 a barrel after being down earlier in the morning in London. Unrest in Nigeria was partly to blame for the runup. Gold rose.
Fed Chairman Greenspan appears on a panel with several of the world's leading central bankers at the International Monetary Conference via video link at 9:15 a.m. ET .
Also Tuesday, the G-8 conference of the world's major industrialized nation gets underway in Sea Island, Ga. Debt forgiveness, especially for Iraq but also for many of third world nations, is a expected to be a leading topic of discussion.
Computer maker Hewlett Packard (HPQ: Research, Estimates) hosts its analyst meeting in San Francisco Tuesday, starting at 11 a.m. ET.
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