Market Little Moved in Opening
May. 17, 2001
%mlink(STRY:; PHOTO:; AUDIO:%)
NEW YORK (AP) _ Stock prices are mixed in early Wall Street trading. The Dow Jones Industrial Average is down 29 points. On the New York Stock Exchange, advancers hold a 9-to-8 advantage over decliners.
The Nasdaq Composite Index has gained two points and the Standard & Poor's 500 stock index is down a point.
Earnings will be a focus for investors this trading day.
The market is reacting to Hewlett-Packard's results, which topped forecasts despite a big decline in profits from a year ago.
H-P also reiterated guidance for its current-quarter profits despite an anticipated slippage of revenues.
Shares of Ciena had moved higher in premarket trading today after the communications equipment maker posted earnings.
And investors will be standing by for a report from Dell Computer later today.
There's a big financial services merger in the works. Citigroup says it's buying the biggest banking company in Mexico, Banacci.
Analysts say some hesitation is likely in the market, at least in early trading, given the impressive advance Wednesday on Wall Street.
Those gains sent the Dow to its first close above 11,000 since September.