U.S. stocks open flat on Europe’s worries
New York, NY, United States (AHN) – Stocks were little changed on the open Tuesday as traders and investors continue to keep a cautious eye on the ongoing European sovereign debt crisis.
Just before 10 a.m., the Dow Jones Industrial Average was up 30 points, the Standard & Poor’s 500 Index was flat and the NASDAQ gained about 2 points.
Keeping investors jittery and on the sidelines was a downgrade warning from S&P issued late Monday for the European region.The U.S. credit rating agency put 15 eurozone states, including Germany and France, on credit watch.
The credit watch decision by S&P brought mixed reaction across Europe on Tuesday. However, the general agreement was that the warning would step up pressure for a comprehensive deal at Friday’s European Union summit.
Stocks in the U.S. also appeared to be shrugging off the downgrade and were eager to keep last week’s strong rally going.
Shares of BP, which accused Halliburton of hiding evidence regarding the Deepwater Horizon spill on April 20, 2010, were up 11 cents at $43.71, while shares of Halliburton were down more than 4 percent at $35.48.
Oil was off 18 cents at $100.96 a barrel. Gold lost $20, and was last trading $1,714.90 a troy ounce.
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