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Stocks mixed at opening following Ford news
Wall Street opened mixed this morning following a surprise $1 billion profit from Ford and ahead of key construction spending and manufacturing data due out shortly.
In the first 20 minutes of trading, the Dow is up one-quarter of 1 percent.
The broader S&P 500 is up two-tenths of 1 percent and the tech-heavy Nasdaq is down four-tenths of 1 percent.
Before the bell this morning, Ford reported a surprise $1 billion third-quarter profit -- thanks to the government-subsidized Cash for Clunkers program -- and predicted a profitable 2011 (but not 2010).
At 10 a.m., October manufacturing data will be released, and forecasters expect an uptick in U.S. manufacturing. Also, home construction spending data will be released, and forecasters expect it slipped backward.
-- Frank Ahrens
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By
Frank Ahrens
|
November 2, 2009; 9:58 AM ET
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