The markets opened lower as wholesale prices grew modestly when adjusted for the volatile oil and food components. Manufacturing output fell for the month of May to fan recessionary worries. The Dow lost 22 points to 12,246 while Nasdaq edged down a point to 2473.
On the upside
On the downsideBest Buy (NYSE: BBY) reported a small decline in 1st quarter profits as same-store sales rose 3.7%. The better than expected results were tempered by a slower pace of store openings in China.