Stocks open mixed; Banks rise
Monday, September 12, 2011
NEW YORK (AP) -- Stocks are opening mixed on a weak reading of business sentiment. Bank stocks rose.
JPMorgan Chase & Co. rose 1.5 percent falling after analysts at Stifel Nicolaus upgraded the stock.
Best Buy Co. dropped 3 percent after the electronic retailer reported a slump in quarterly profit.
The Dow Jones industrial average is down 45 points, or 0.4 percent, to 11,010 fifteen minutes after the opening bell. The S&P 500 index is down 3 to 1,158. The Nasdaq is up 3, or 0.1 percent, to 2,498.
Major European markets were slightly higher Tuesday after Italy's finance minister confirmed that officials had met with China's sovereign wealth fund about buying Italian bonds. A report that China may buy Italian government bonds helped stock indexes eke out slight gains on Monday.