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Stocks Open on the Weak Side

August 1, 2002

NEW YORK (AP) _ Stock prices are modestly lower in early trading. The Dow Jones industrial average is down 45 points in today’s early going. Losing issues on the New York Stock Exchange hold a 3-2 lead over gainers.

The Nasdaq Composite Index is off five points and the Standard & Poor’s 500 Stock Index is down three points.

Stocks finished mixed in the latest session, spurred by a late-round of blue-chip bargain hunting.

All eyes will be on the report from the Institute for Supply Management due at 10 a.m. EDT. That key measure of manufacturing is seen portraying further expansion. The ISM report comes a day ahead of the monthly unemployment report, also key for the market.

Investors are also keeping an eye on developments in the WorldCom accounting scandal. Two former financial executives surrendered to authorities this morning.

European stocks were mixed ahead of the opening bell.

On the earnings front, Exxon Mobil reported shy of forecasts. Walt Disney is due after the closing bell.

Update hourly