COLLEEN MCEDWARDS, CNN ANCHOR: We want to check and see how Wall Street may open the week.</s>CAROL LIN, CNN ANCHOR: Kitty Pilgrim, standing by in New York.</s>MCEDWARDS: Hi, Kitty.</s>LIN: Hi, Kitty. We were just looking at the futures earlier, and it's not looking very positive so far.</s>KITTY PILGRIM, CNN CORRESPONDENT: That's right, Carol and Colleen. It looks like this trading week might start off where last one ended: in the red. And Nasdaq futures are declining right now. But they are off their lows of the morning. Still, it could be more selling at the open, following a more than 3.5 percent route for the Nasdaq on Friday. And that prompted worries by -- worries about technology earnings. Now, the selloff also pulled down the Dow Jones industrial average by 126 points, or more than 1 percent. Airline stocks might be on the move today, following a couple of developments in the industry. And, first, Northwest Airlines has reached a tentative contract agreement with the union representing 9600 mechanics, possibly averting a strike that could have started next month. If the mechanics approve the deal, it would end a four- year disagreement over pay and benefits. And American Airlines is poised to become the world's largest carrier. Its $742 million purchase of TWA is expected to close today. And, as a result, American would take the top spot from United Airlines, at least until United completes its planned purchase of US Airways. So that's a quick look at business news. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Money Matters: Northwest Airlines Reaches Tentative Contract With Mechanics Union; American Airlines Set to Purchase TWA