The markets opened lower as oil prices rebounded with the Dow falling 92 points to 12,533. Nasdaq lost 17 points to 2447. Meanwhile, investors waited for the latest report on existing home sales.
On the upside
On the downsideStandard & Poor's Ratings Service placed the major domestic airlines on CreditWatch due to record high jet fuel costs. Shares of American Airlines (NYSE: AMR) and Continental Airlines (NYSE: CAL) skidded.