Dow Down 16, Nasdaq Up 3
Oct. 08, 2003
NEW YORK (AP) _ Stocks are mixed in early trading after five straight days of gains. The Dow Jones Industrial Average is down 16 points. Losing issues on the New York Stock Exchange hold a slight eleven-to-ten lead over gainers.
The Nasdaq Composite Index is ahead 2.5 and the Standard & Poor's 500 Stock Index is down about a point and a-half.
Investors are bracing for more earnings results. After the closing bell today, Internet portal Yahoo! is scheduled to release its report. Analysts are looking for nine cents a share.
Before the opening on Wall Street, membership warehouse retailer Costco said its fiscal fourth-quarter earnings fell three percent despite an eleven percent increase in sales, but those earnings were ahead of lowered estimates.
Merger news could also have an impact on trading.
General Electric's NBC unit has struck a deal to take controlling interest in Vivendi Universal's U.S. entertainment assets.