Wall Street Down At Opening
Wall Street opened lower this morning, as the markets continue to absorb last night's news that Bank of America is going back to the federal trough for more billions of dollars to help the bank swallow Merrill Lynch, which it bought in September.
In the first 20 minutes of trading, the Dow is down about 85 points, or about 1 percent.
The S&P is down a little more than 1 percent and the Nasdaq is down just less than 1 percent.
Traders are keeping an eye on Nasdaq's Apple today after last night's news that chief executive Steve Jobs is taking a six-month leave of absence to deal with health issues. Jobs, a pancreatic-cancer survivor, has lost significant weight over the past year and disclosed recently that he has a "hormone imbalance."
But few companies are more closely linked to their chief executives as Apple; for many, Jobs is Apple
Predictably, shares of Apple are down in early trading but maybe not as much as some expected: about 3 percent, trading at about $85 per share.
However, the company was downgraded by one analyst before the market opened today and the stock is trading at near two-year lows.
January 15, 2009; 9:52 AM ET
Categories: The Ticker | Tags: Apple, Dow Jones, Steve Jobs
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