LONDON (CBS.MW) -- U.S. stock market futures were trending higher Friday after Intel overnight upped its sales guidance, but caution ahead of payrolls data later in the morning capped gains.
S&P futures rose 5.2 points while Nasdaq futures added 13.5 points.
The dollar was fairly stable vs. rival currencies, with the euro up 0.4 percent at $1.3314. January-dated crude futures eased slightly to $43.14 per barrel in electronic trade after a two-day tumble.
Intel (INTC:
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Intel shares rose 8.5 percent to $24.63 in pre-open trade.
The news boosted chipmakers in Asia and Europe in Friday trade, with STMicroelectronics (STM:
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Merrill Lynch in a note said it doubted that Intel would post its third straight year of double digit revenue growth in 2005, saying that hadn't happened since 1996. The broker said it was surprised by Intel's $9.3 to $9.5 billion revenue outlook for the fourth quarter, well above the $8.9 billion the broker had forecast, but still underlined that "Intel has a problem that isn't going to go away in a single quarter," saying the company still has more capacity than it can fill.
IBM (IBM:
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Continuing the tech theme, Wachovia Securities downgraded application software makers Oracle (ORCL:
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SAP's German-listed shares weakened 0.4 percent, and Oracle shares lost 8 cents.
And mobile handset maker Nokia (NOK:
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Outside of techs, the BBC reported -- falsely -- that Dow Chemical (DOW:
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Mining stocks led decliners in London amid recent commodity price falls. See London markets.
Payrolls at 8:30 a.m.
Economists are expecting a second straight month of above-trend growth for November non-farm payrolls at about 204,000, just a smidgen faster than the 198,000 average for the year, according to a survey conducted by CBS MarketWatch. The unemployment rate is expected to fall a tenth to 5.4 percent. See story.
Biomira shares (BIOM:
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In a small deal, Selectica (SLTC:
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I-many shares closed Thursday at $1.45 per share.
Steve Goldstein is a reporter for CBS MarketWatch.com in London.
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