US pre-open: Stocks seen slightly higher
Wall Street is expected to begin slightly higher as investors contemplated yesterday's interest rate decision.
The central bank cut rates by a quarter point to 2% and suggested that it may take a break from its rate cutting policy.
Today, March personal income and spending data is due out, along with weekly jobless claims and March manufacturing activity.
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Across the markets, the Dow Jones is expected to start up 14 points to 12,821 with the Nasdaq due to begin 5 points higher at 1928. The S&P 500 is seen 1 point higher at 1387.
In corporate news, Starbucks posted a 28% drop in second quarter profits and the coffee retailer reduced a further 30 sore openings from its 2008 plan.
The New York Times reports that Cablevision is preparing a $650m offer to buy Newsday from Tribune Co.
