Stocks open mixed on Wall Street; Best Buy soars
NEW YORK (AP) — Stocks are opening mixed on Wall Street as investors’ enthusiasm over new economic stimulus from the Federal Reserve fades.
The Dow Jones industrial average edged down seven points to 13,237 shortly after the opening bell today.
The Standard & Poor’s 500 index was off one point at 1,427. The Nasdaq composite lost two points to 3,010.
Stocks had rallied Wednesday afternoon after the Fed announced more plans to buy bonds to support the economy. By the end of the day the gains were mostly gone.
Best Buy jumped 15 percent to $14 a share after a newspaper reported that the founder of the troubled electronics chain will make a bid of up to $6 billion for the company by the end of the week.