The markets opened mixed as investors continued to worry about higher oil prices stifling consumer spending and continued deterioration in the financial services sector. The Dow added 8 points to 11,355 while Nasdaq lost 3 points to 2311.
On the downsideShares of Ford (NYSE: F) and General Motors (NYSE: GM) fell ahead of their June sales reports. Rumors swirled around the possibility of the automakers going bankrupt.
In the broad market, advancing issues outpaced decliners by a very narrow margin on the NYSE, but were edged out by margin of 10 to 9 on Nasdaq. The Russell 2000 which
tracks small cap stocks slipped a fraction to 697.