Dow falls, Nasdaq rises in early trading |
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Mon, 22 Jan 2007 16:03
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NEW YORK (AFX) - The Dow Jones Industrial Average is down about eight points in early trading on Monday. Meanwhile, the Nasdaq Composite Index is ahead three points and the Standard & Poor's 500 Stock Index is up a fraction.Earnings reports continue to be a point of investor focus. Drug giant Pfizer reports a sharply higher fourth-quarter profit, helped by a gain from sale of its consumer health care unit. The results topped analyst estimates. News of a major restructuring is expected later in the day.Citigroup says Sallie Krawcheck will move out of her job as chief financial officer. She'll head the bank's global wealth management division.Sun Microsystems is expected to announce that it will use Intel chips in some of its servers. A source says, in turn, Intel will endorse Sun's Solaris operating system.On the economic calendar, the Conference Board is to release the Index of Leading Economic Indicators, seen posting a modest rise.Crude oil futures have been moving higher, recently trading around $52.50 a barrel.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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TMT highlights to 15:40 GMT 