Stocks Edge Off Lows on Fannie, Freddie News

Analyst actions were setting a few names in motion. Credit Suisse cut its price target on American International Group (AIG Quote) to $1.50 from $3. Goldman cut its price target for Google (GOOG Quote) to $475 from $520.

Shifting to commodities, crude oil was losing $3.52 to $58.89 a barrel. Gold was dropping $13.60 to $732.90 an ounce.

The U.S. bond market is closed Tuesday for Veterans Day. The dollar was rising vs. the euro and pound but softening against the yen.

Credit markets were continuing to thaw. Three-month dollar Libor, a measure of the rate banks charge one another for large loans, was down 6 basis points at 2.18%. Overnight Libor was set at 0.35%.

Abroad, European exchanges, including the FTSE in London and the DAX in Frankfurt, were mostly edging downward. In Asia, Japan's Nikkei and Hong Kong's Hang Seng both closed with losses.