Stocks lower on Pakistani violence

Major indexes skid at opening after former Pakistani Prime Minister Bhutto is killed in a suicide attack.

Subscribe to Markets
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

NEW YORK (CNNMoney.com) -- Stocks opened lower Thursday after former Pakistani Prime Minister Benazir Bhutto was assassinated in a suicide attack in Rawalpindi, Pakistan.

The Dow Jones industrial average (INDU) and the broader S&P 500 (SPX.X) index both shed nearly 0.5 percent in early trading. The tech-laden Nasdaq (COMPX) was down 0.4 percent.

Bhutto's assassination could cause further political turmoil in Pakistan, a country with nuclear capabilities, and upset world markets, particularly the oil trade.

In economic news, the U.S. Commerce Department said factory orders for November came in lower than expected. And a report showing consumer confidence for December is due out Thursday at 10 am EST.

Also, the government's weekly oil inventory report will be closely watched Thursday. The report will be released at 10:30 am EST.

U.S. light crude oil for January delivery rose 34 cents to $96.31 on the New York Mercantile Exchange.

Treasury prices rose, with the yield on the 10-year note climbing to 4.20, down from 4.28 on Wednesday. Bond prices and yields move in opposite directions.

In currency trading, the dollar fell versus the euro and gained against the yen.

COMEX gold for February delivery rose $3.70 to $833.20 an ounce.  To top of page

Photo Galleries
50 years of the Ford Mustang Take a drive down memory lane with our favorite photos of the car through the years. More
Cool cars from the New York Auto Show These are some of the most interesting new models and concept vehicles from the Big Apple's car show. More
8 CEOs who took a pay cut in 2013 Median CEO pay inched up 9% in 2013 to $13.9 million. But not everyone got a bump last year. Here are eight CEOs who missed out. More
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.