The markets opened mixed with investors elated about mergers and acquisitions, but worried about volatile record high oil prices. The Dow rose 10 points to 11,853 while Nasdaq dropped 4 points to 2401.
On the upside
On the downsideThe Associated Press reported that Citigroup (NYSE: C) was about mid-way through cutting 10% of the 65,000 employees in its investment banking unit.
In the broad market, advancing issues barely edged out decliners on
the NYSE but were outpaced by a margin of 5 to 4 on Nasdaq. The
Russell 2000 which tracks small cap stocks added a point to 727.