U.S. Stocks Drop In Trading--Best Buy Disappoints
The Dow is sharply lower--even as investors appear to be waiting for the afternoon news from the Federal Reserve on interest rates before making trades.
A few stocks --are moving. Melissa Lee took a closer look at today’s large cap trading; she’s CNBC’s “Eye on the Floor.”
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Today's activity has been mostly related to oil – which is trading higher in anticipation of the OPEC meeting. Consequently, the Dow Transports are going lower. Also, the market is seeing pronounced weakness in the airline sector.
In addition, retail is showing weakness after Best Buy revealed disappointing 3Q results. The news is dragging down rival Circuit City .
Chemicals are also soft after concerns were expressed about the climbing price of ethylene. Dow Chemical, Dupontand Lyondell Chemical are also lower.