Markets Open Slightly Up, But Show Weakness
Wall Street opened up, slightly, across the board this morning, despite the release of some dismal and surprise unemployment news this morning.
In the first 15 minutes of trading, the Dow is essentially flat, dipping in and out of negative territory.
The S&P 500 is just positive and the Nasdaq has turned negative.
Some analysts believe bad employment news, no matter how much of a surprise, is already baked in to prices. Also, Wal-Mart delivered some good earnings news before the markets opened today.
But the positive opening is weak and may not last through the morning.
The markets will have plenty of outside influences to react to today -- there are two key hearings on Capitol Hill today, President Bush speaks on the economy and Nordstrom and Kohl's report earnings later today.
-- Frank Ahrens
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