Stocks Hover as Election Looms

Big economic reports coming
By Kevin Spak,  Newser Staff
Posted Nov 3, 2008 8:54 AM CST
A trader works on the floor of New York Stock Exchange Thursday, Oct. 30, 2008.   (AP Photo/Richard Drew)
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(Newser) – Stocks opened quietly today, as investors awaited the outcome of tomorrow’s election and the raft of economic reports set to hit later in the week. The Dow fell just nine points, while the S&P and Nasdaq inched down 0.2% and 0.1% respectively, the Wall Street Journal reports. October saw the Dow slide 14.1%, its worst drop since August 1998.

Macro-economic news is expected to drive the week’s trading, with closely watched reports on the docket, including the monthly nonfarm payrolls report on Friday. Oil futures fell 79 cents, and the dollar rose 0.6% against the yen. Overseas markets were generally positive, with Hong Kong’s Hang Seng up 2.7%.