Stocks retreat at the open

U.S. markets start lower as credit crunch hits Home Depot deal; investors await home-sales numbers.

August 27 2007: 9:31 AM EDT

NEW YORK (CNNMoney.com) -- U.S. stocks retreated at Monday's open after Home Depot agreed to cut the sales price of its wholesale supply unit, the latest sign that the credit crunch is hitting deals.

The three major gauges - the Dow Jones industrial average, Nasdaq composite index, and the Standard & Poor's 500 index - all edged lower in the opening minutes of trading.

Investors are awaiting a reading on July existing home sales due at 10 a.m. ET. Last week's new-home sales report was unexpectedly strong.

Among companies in the news Monday: Home Depot (Charts, Fortune 500), Wal-Mart Stores (Charts, Fortune 500), U.S. Steel (Charts, Fortune 500), Gateway (Charts), Lenovo (Charts), Yahoo (Charts, Fortune 500), and Alcan (Charts).  Top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.