AP News

Stocks open lower; HP takes a hit


NEW YORK (AP) — Stocks are opening lower on Wall Street. Hewlett-Packard is down after saying that a British company it bought for $10 billion last year lied about its finances.

Just after the opening bell, the Dow Jones industrial average is down 44 points at 12,751. The Standard & Poor's 500 index is off four points at 1,382. And the Nasdaq composite index is down seven at 2,908. HP is off 13 percent.

The government says builders started construction last month on the most homes and apartments since July 2008. It's more evidence that the housing recovery is gaining momentum.

On Monday, the Dow soared 207 points. Investors focused on signs over the weekend that congressional Republicans and the White House might be able to reach a deal on the federal budget.


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus