LIAN PEK, CNN ANCHOR: The U.S. economy is in the spotlight once again as Wall Street awaits the release of a key measure of business activity. Market sentiment could get a boost if new data shows U.S. purchasing managers were increasing their level of buying in July. For more on that and other market-moving news, let's go to Sasha Salama, at the Nasdaq marketsite -- Sasha.</s>SASHA SALAMA, CNN CORRESPONDENT: Thank you. It's pretty well understood by Wall Street that corporate United States is really in a recession. The key question is will the consumer be able to hold up its end of the bargain and continue to spend, in the wake of many layoffs. You mentioned one economic report. Later this week, we are looking toward the unemployment report for the month of July, which will be a key economic indicator as well. All that said, the betting still is that the Federal Reserve will continue to lower interest rates in the United States. The futures now are pointing to a higher open on Wednesday in the United States, after the Nasdaq gained just 9 points, on meager volume, 1.6 billion shares changing hands. But there are some results that came out after the close that could light a fire under stocks. One is from priceline.com, the name-your-own-price e-tailer reporting its first-ever profit, and it was a profit that blew past Wall Street estimates: 6 cents a share; that was 5 cents better than estimates. And the company guided that revenues and earnings in the third quarter will also come in higher than estimates. Priceline in the premarket is up nearly a dollar, to about 9 1/2. KLA-Tencor, which makes inspection equipment for computer chips, reported 29 cents in earnings, 3 cents better, and bookings were strongest in Europe and in Japan -- Lian.</s>PEK: Sasha, thank you very much for that preview. END TO ORDER VIDEOTAPES AND TRANSCRIPTS OF CNN INTERNATIONAL PROGRAMMING, PLEASE CALL 800-CNN-NEWS OR USE THE SECURE ONLINE ORDER FROM LOCATED AT www.fdch.com
Nasdaq Trading Preview: Will Consumer Spend in Wake of Layoffs