Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Markets Flat at Opening

Wall Street opened largely flat this morning, as the markets looked to reverse a poor week on a light trading day ahead of the long holiday weekend.

In the first 15 minutes of trading, the Dow, the broader S&P 500 and the tech-heavy Nasdaq were all neutral.

The markets got some surprise good news this morning from retailer Sears, which reported a swing to profitability in first-quarter earnings and the securing of $2.4 billion in new credit to fund future purchases.

As with many good first-quarter earnings this year, Sears profits came from cost-cutting, not sales. The company reported a $1 billion drop in revenue compared with the first quarter of 2008.

-- Frank Ahrens
Sign up to get The Ticker on Twitter

By Frank Ahrens  |  May 22, 2009; 9:51 AM ET
Categories:  The Ticker  | Tags: Dow Jones, Sears, nasdaq, s&p 500  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: AIG's Liddy Repeats Promise To Step Down When Replacement Found
Next: D.C.'s Carlyle Group Buys Into Failed Florida Bank

No comments have been posted to this entry.

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company