Markets Nose Up at Opening
Wall Street cautiously stepped into trading this morning following yesterday's big sell-off, opening slightly up across the board.
This comes despite news this morning that construction for new homes and applications for future projects hit record lows in January, according to Commerce Department figures, surprising analysts.
In the first 15 minutes of trading, the Dow, the S&P 500 and the Nasdaq are all just slightly above water, each up well less than half of 1 percent.
New home and apartment construction dropped 16.8 percent in January, Commerce said, the slowest pace in 50 years.
Applications for building permits dropped to a record low, falling 4.8 percent in January.
February 18, 2009; 9:46 AM ET
Categories: The Ticker | Tags: Dow Jones, construction, nasdaq, s&p 500
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