Stock prices are mixed in early trading |
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Mon, 29 Jan 2007 15:56
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NEW YORK (AFX) - Stock prices are mixed in early trading today with the Dow Jones industrial average up 5.53 at 12,492.55, the Nasdaq Composite off 1.30 to 2,434.19 and the Standard & Poor's 500 Index up 0.08 at 1,422.26.U.S. stocks closed mixed on Friday, as gains in the technology sector were balanced by pressure on the broader market amid caution about long-term interest rates. The Nasdaq Composite index rose 1.2 points, the S&P 500 dropped nearly 2 points and the Dow industrials slipped 15 points.The dollar edged higher against the yen and was flat against the euro ahead of a Federal Reserve decision on interest rates due Wednesday. The greenback rose 0.4 percent against the yen to trade at 121.91.Also in focus later in the week will be nonfarm payrolls data, with analysts polled by MarketWatch expecting the Labor Department to report on Friday a fall to 150,000 from 167,000.In premarket earnings highlights, Mattel Inc. reported fourth-quarter net income of $286.4 million, or 75 cents a share, up from $279.2 million, or 69 cents, earned in the final three months of 2005. Quarterly sales reached $2.11 billion, up 14 percent from the prior year's $1.84 billion. Analysts had been looking for Mattel to earn 67 cents a share on revenue of nearly $1.99 billion.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 This material may not be published, broadcast, rewritten, or redistributed.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 