Stocks flat after the rally
Major stock indexes were flat as investors mulled whether the government’s bailout of Fannie Mae and Freddie Mac will affect the root of the mortgage crisis — falling home prices and increasing rates of foreclosures.
Just after the opening bell, the Dow Jones Industrial Average was up 0,33% at 11547. The Nasdaq Composite Index up 0.45% to 2279.25. The S&P 500 fell 0.19% to 1265.
Crude-oil futures shed more than $2 to trade just above $104 a barrel, weighed by expectations that the Organization of Petroleum Exporting Countries will leave its production targets unchanged at its Tuesday meeting and by continued strength in the U.S. dollar. The euro recently traded at $1.4092, down from $1.4146 late Monday.
Tags: dow jones , fannie mae , freddie mac , nasdaq , oil , s&p 500
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