Stocks were mostly higher while bonds advanced on a friendly wholesale inflation report.
Dow Jones Industrial Average
was up 34 to 9932. Dow component
warned it expects first-quarter earnings to come in 50% below the
15-analyst consensus estimate of 84 cents a share. The stock was down 3 9/16, or 7%, to 47 5/16.
Producer Price Index
fell 0.4% in February, while the core PPI, excluding food and energy, was unchanged.
The 30-year Treasury bond was up 7/32 to 95 21/32, yielding 5.55%, in the wake of the PPI report.
Meanwhile, Saudi Arabian oil minister Ali al-Naimi told reporters that
and non-OPEC oil producers agreed to cut more than 2 million barrels a day from the market,
reported. The news boosted oil and oil service stocks.
was up 5 to 1303.
Nasdaq Composite Index
was down 13 to 2399. The
was up fractionally at 402.
TheStreet.com Internet Sector
was down 7 to 577.
TheStreet.com E-Commerce Index
was down 1 to 108.
Most Up at Open -- NYSE
Most Up at Open -- Nasdaq
DoubleClick (DCLK) , up 14 9/16 to 121
: The company yesterday announced a 2-for-1 stock split.
Most Down at Open -- NYSE
DaimlerChrysler (DCX) , down 2 1/8 to 92 5/16
Most Down at Open -- Nasdaq
CMGI (CMGI) , down 13 1/8 to 169
: The company reported second-quarter earnings of 28 cents a share, including gains, vs. a loss of 15 cents a year ago. Separately, yesterday,
The Boston Globe
reported that CMGI could announce an alternative merger deal for Lycos "within several days." On Tuesday, CMGI CEO David Wetherell resigned from Lycos' board in protest over the terms of Lycos' merger deal with