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Markets edge down on openingInvestors on edge after last week's selloff.NEW YORK (CNNMoney.com) -- U.S. stocks edged slightly lower on Monday after last week's selloff. The Dow Jones Industrial Average and the Standard & Poor's 500 were roughly flat. The Nasdaq was down 9 points, or 0.35 percent. Stocks to watch Monday include three that are reporting quarterly results - Blackstone Group (Charts), Tyson Foods (Charts, Fortune 500) and Orbitz (Charts) - as well as Intel (Charts, Fortune 500) and Citigroup (Charts, Fortune 500). Last week, stocks fell sharply after another round of big writedowns from Wall Street's leading banks reignited credit fears. The blue-chip Dow lost 4.1 percent, while the S&P fell 3.7 percent and the Nasdaq dropped 6.9 percent. On Monday, oil prices fell below the $94 a barrel mark on reports that OPEC would discuss increasing its output at an upcoming meeting. Private equity firm Blackstone Group swung to a net loss in the latest quarter due to compensation-related charges. The results reflect Blackstone's first full quarter operating as a public company. The company made a splashy market debut in June. No. 1 computer chipmaker Intel unveiled its newest generation of processors Monday, a series of energy-saving chips designed to be used in servers and high-end gaming PCs. U.S. bond markets are closed in observance of Veterans Day. Major markets in Asia finished sharply lower on mounting concerns about the subprime mortgage fallout. In Europe, stocks were mixed in midday trade. |
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