VANCOUVER, BC (September 13, 2011) Clearlease Financial Reports Cautious trading has marked the early stages of Tuesday’s session. The major averages are mixed in initial trading, with the Dow edging lower and the Nasdaq showing a modest gain.
Traders shrugged off speculation about a Greek default and its impact on the European financial system late in Monday’s session. Shares had been lower for most of the day, but a rally in the final stages of trading left the major averages higher by the close.
There were signs of caution overnight, amid worries that Italy might have trouble raising funds, but the sentiment improved as the U.S. market neared its open. European markets have moved higher in mid-day trading, but the U.S. indices are mixed in early action on Wall Street.
The Dow Jones Industrial Average is down 21.46 points to 11,039.66. The Nasdaq is up 11.83 points to 2,506.24. The S&P 500 is up 1.48 points to 1,163.75.
Some economic news was released during the morning, though the week’s biggest reports, including retail sales and the consumer price index, are due out later in the week.
The U.S. Labor Department revealed that import prices declined 0.4 percent in August. Import prices were up by 0.3 percent in July. August’s decline was led by a 1.8 percent slide in fuel prices. Excluding fuel, import prices were up by 0.2 percent.
Meanwhile, export prices rose 0.5 percent in August, bouncing back after a decline of 0.4 percent in July.
In corporate news, Best Buy announced earnings before the market opened. The electronics retailer reported a quarterly profit that fell from last year and missed the expectation of market analysts.
On the news, shares of Best Buy are down about 6 percent.
Europe saw early losses amid lingering worries about a Greek default and the possible consequences on the continent’s financial system. The equity markets have made gains during mid-day trading, however, and are now firmly above the unchanged mark.
Germany is up 1.25 percent. France is higher by 1 percent. And the U.K. is trailing a bit with a 0.4 percent advance.
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