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WEDNESDAY, NOVEMBER 25, 2009
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 MARKET OPEN 
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Stocks Edge Down Ahead of Earnings

Dow off 50 in early trading; first reports due late today

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(Newser) – Stocks moved lower at today’s open as traders held their collective breath ahead of what’s expected to be a dismal earning season, the Wall Street Journal reports. The Dow was down 50 points recently, to 8,548, while the S&P and Nasdaq dipped 0.95% and 0.78% respectively. All eyes are on Alcoa, which will begin earnings season by reporting after the bell today.

Citigroup shares were also sliding, down 8% on news that it could sell a controlling stake in Smith Barney to Morgan Stanley. Abbott Laboratories dropped 0.5% after agreeing to acquire Advanced Medical Optics. Crude oil, meanwhile, fell more than $2, and recently traded around $38 a barrel.

Traders confer on the floor of the New York Stock Exchange Thursday, Jan. 8, 2009
Traders confer on the floor of the New York Stock Exchange Thursday, Jan. 8, 2009   (AP Photo/Richard Drew)
Albert Young of Ameriprise Advisor Services watches the late numbers on the floor of the New York Stock Exchange, Wednesday, Jan. 7, 2009 in New York.
Albert Young of Ameriprise Advisor Services watches the late numbers on the floor of the New York Stock Exchange, Wednesday, Jan. 7, 2009 in New York.   (AP Photo/Henny Ray Abrams)
Traders work on the floor of the New York Stock Exchange Thursday, Jan. 8, 2009
Traders work on the floor of the New York Stock Exchange Thursday, Jan. 8, 2009   (AP Photo/Richard Drew)
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