Stocks opened mixed Monday as wary investors
tried to reconcile positive economic news with fears of a second
half earnings slowdown.
In the first hour of trading on Wall Street, the Dow Jones
industrial average was up 13.92 at 11,041.72.
Broader indexes were lower. The Nasdaq composite index was down
2.44 at 3,787.03 and Standard & Poor's 500 index was down 0.16 at
1,471.68. The Russell 2000 index of small companies was unchanged
Stock rose on Friday on an inflation report that showed that
wholesale prices remained virtually the same in July after a huge
jump in June caused by soaring energy costs.
The Labor Department said its producer price index, which
measures inflation pressures before they reach the consumer, was
flat in July, a significant easing of price pressures following a
hefty 0.6 percent surge in June.
Investors have kept pressure on technology stocks, however, in
the wake of warnings from some widely held companies that earnings
could fall in the second half of 2000.