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The America's Intelligence Wire

| August 10, 2004 | COPYRIGHT 2004 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From CBS Marketwatch (Stories))

Byline: S. SRINIVASAN

U.S. stock futures were attempting a move up in thin trade as the markets position for a probable interest rate increase later in the day from the U.S. Federal Reserve. The benchmark New York grade crude contract hit $44.99 a barrel overnight; the contract was last at $44.71 bbl. Iraq is expected to resume full exports Tuesday. Swiss bank giant UBS added a note of caution on the market outlook. "While investor sentiment has recovered from the very low levels of last year, it still remains subdued," UBS said. "Combined with directionless markets and the expectation of rising interest rates, this may continue to dampen levels of market activity." Shares were down 0.2 percent in Switzerland.

See Indications for full pre-open coverage.

Global Markets

European and London stock markets were holding moderate gains, capping a steep two-session decline triggered largely by weak July U.S. jobs growth. The Nikkei overnight saw a small gain.

See Global Markets page for Europe, U.K. and Asia markets.

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