US stocks open mixed amid high oil prices

March 3rd, 2012 - 12:00 am ICT by IANS  

New York, March 2 (IANS) US stocks opened mixed Friday amid high oil prices and eurozone’s crippling debt crisis.

With no big economic calendar, investors Friday kept a close watch on oil prices and the European debt drama, Xinhua reported.

Crude prices rose on the last trading day, brightening crude demand perspectives. Some investors worried that high oil prices will hurt US economy, especially the future inflation rate.

Meanwhile, the leaders of 25 European countries on Friday signed a new treaty designed to avoid a repeat of the eurozone’s debt crisis.

Investors, however, believed that eurozone policy makers lost their credits because of their low efficiency.

The Dow Jones industrial average lost 9.54 points, or 0.07 percent, at 12,970.76. The Standard & Poor’s 500 was down 1.62 points, or 0.12 percent, to 1,372.44. The Nasdaq Composite Index dropped 0.89 points, or 0.03 percent, to 2,988.22.

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