Stocks mixed at open
Stocks mixed at open
8/3/2005 16:52
Stocks were mixed early Tuesday as a profit warning from Texas Instruments and some hesitation after a recent run kept investors wary.

The Dow Jones industrial average (down 3.69 to 10,936.86, Charts) and the broader Standard & Poor's 500 (down 0.47 to 1,224.84, Charts) index were little changed around ten minutes into the session. The two gauges are right near their best levels in more than 3-1/2 years. The Nasdaq composite (down 3.23 to 2,086.98, Charts) added a few points.

In corporate news, Texas Instruments (Research) narrowed its quarterly earnings targets late Monday to the lower end of previous forecasts, due to weaker demand for its chips.

But countering that was continued tech stock momentum from the previous session, in which the Nasdaq rose 1 percent, despite the broader market stalling.

This week marks the fifth anniversary of the all-time high for the Nasdaq composite, reached in March 2000 near the end of the Internet bubble. The Nasdaq closed above 5,000 for the first time on March 9, 2000 and hit an all-time closing high of 5048.62 on March 10, 2000.

Oil prices fell in the early going. U.S. light crude for April delivery retreated 25 cents to $53.64 a barrel in electronic trading.

Treasury bond prices fell, raising the 10-year note yield to 4.36 percent from 4.30 percent late Monday. Bond prices and yields move in opposite directions.

In currency trading, the dollar fell versus the euro and yen.

COMEX gold rose $2.10 to $437.90 an ounce.

In global trade, Asian-Pacific stocks ended mixed, and European shares were lower at midday.

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